ISM non-manufacturing survey results
- Prior was 55.5
- Employment 58.1 from 53.7 prior
- New orders 56.8 vs 58.1 prior
- Prices paid 55.4 vs 55.7 prior
- Order backlog 52.5 vs 55.0 prior
- Inventories 54.0 vs 51.5 prior
- Imports 50.0 vs 55.0 prior
This looks like a very good report and should reverse much of the worries about today's ADP report. That said, the prior was the lowest since April 2017 and the trend over the past few months is still lower, albeit still comfortably above 50.
Comments in the report:
- Waiting to see [the] impact of Chinese import tariff affect." (Utilities)
- "Our local economy is doing very well except for a large number of suburban office vacancies." (Finance & Insurance)
- "There is added pressure to find operational savings so we can reduce the cost of healthcare, be a model to others, and pass the savings along to our patients and members of our health insurance business." (Health Care & Social Assistance)
- "Economy is good and it's showing in our weekly sales, tariffs are affecting some, but doesn't seem to matter. Our prices are up as well as costs, but sales are good." (Accommodation & Food Services)
- "Low unemployment is good since our business is entertainment and relies on discretionary spend." (Arts, Entertainment & Recreation
- "Ability to source and retain employees continues to strain the business." (Construction)
- "General conditions are steady, not increasing or going down." (Information)
- "We reported very strong Q1 results and raised our FY guidance. However, our stock has traded down due to the continued uncertainty in healthcare/Rx. There is a concern that tariffs on pharmaceuticals could be on the horizon." (Retail Trade)
- "Our business level is connected to metal commodity future outlook, but current trade war does not let investors have a clear sight. In this sense, [it] has been very difficult to plan in a long term ahead." (Mining)
- "Gearing up for summer busy construction season." (Public Administration)
