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Wednesday, May 03, 2017

April ISM non-manufacturing index 57.5 vs 55.8 expected

  • Prior was 55.2
  • Employment 51.4 vs 51.6 prior -- lowest since August
  • New orders 63.2 vs 58.9 prior -- highest in 11 years
  • Prices paid 57.6 vs 53.5 prior
Big beat. The US dollar hit a session high against the yen and euro.
The divergence in employment and new orders sounds like there is more to produce but that the robots are doing it now.
  • "Business level increasing. More project inquiries are being received." (Construction)
  • "Beginning of Q2, business is profitable, maybe a bit slower than anticipated. Opportunity still positive." (Finance & Insurance)
  • "Stable activity. Waiting on health care reform and its impact on our organization." (Health Care & Social Assistance)
  • "Ongoing rain in Northern California is degrading the quality and increasing the prices of some vegetables, such as iceberg lettuce, broccoli, napa cabbage, and some varieties of romaine." (Accommodation & Food Services)
  • "[Overall] positive outlook for Q2, Q3, and Q4 [in] 2017." (Retail Trade)
  • "Optimistic business outlook, but cautious in light of [the] geopolitical instability with North Korea." (Management of Companies & Support Services)
  • "First three months of 2017, sales have exceeded each of [the first] three months of 2016." (Wholesale Trade)
More details.

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