Courtesy of Lee Adler of the Wall Street Examiner
ISM Non Manufacturing (Services) New Orders Index, not seasonally adjusted fell by 2.8 points in October to a reading of 56.1. Readings above 50 indicate growth. The monthly decline of -2.8 in October was better than last year’s drop of -3.4 for the corresponding period. It left the index 2.2 points above the year ago figure. October does not exhibit any seasonality.
Over the prior 10 years, there have been both gains and declines for the month. This month’s reading was well within the usual range of change. This reading compares with a gain of 0.9 points in the New Manufacturing Orders Index. Neither index shows any sign of any weakening in the economy or the stock market.
ISM Non Manufacturing New Orders Index Chart- Click to enlarge
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