Bad News for Recession Boosters: ISM Non-Manufacturing Holds Steady
December’s Institute for Supply Management (ISM) Non-Manufacturing report came in at 53.9%, virtually unchanged from November’s 54.1%. Any reading above 50% indicates expansion.
The weighted average value of the two ISM reports for December is 52.97 (weighted 15% for manufacturing and 85% for non-manufacturing, which excludes the goods and services produced by governments; this is consistent with previous months):
(15% x 47.7) + (85% x 53.9) = 52.97
That’s down from November’s 53.61 by 0.64, and is still decently in expansion territory.
