Yesterday, the U.S. non-manufacturing ISM report was released and it showed the U.S. non-manufacturing PMI reached 57.3% in February 2012.
The U.S. non-manufacturing PMI, which is an index that estimates the economic activity in the U.S. non-manufacturing sector, expanded for the 26th consecutive month; the growth rate slightly rose from 56.8% in January 2012 to 57.3% in February 2012 i.e. a 0.5 percent points fain. This means that while the US non-manufacturing sector is still growing, it grew during February by a slightly faster pace than in January.
Among the leading sectors in U.S. non-manufacturing industries that grew during February include: Retail Trade; Real Estate, Rental & Leasing; Educational Services; Wholesale Trade; Other Services; Transportation & Warehousing; Finance & Insurance; Construction; Arts, Entertainment & Recreation
The leading industries that contracted during February include: Management of Companies & Support Services; Retail Trade; and Health Care & Social Assistance.
The report shows that prices related to the non-manufacturing industries were growing faster in February than in January (a rise of 4.9%). The business activity/production also grew in February compared with the rate in January.
Currently, the major U.S. stock market indexes are traded sharply down including the DOW S&P500 and NASDAQ. Furthermore, commodities prices are also traded down. This situation suggests the recent positive news of the progress in the non-manufacturing sectors in the U.S. doesn’t seem to impress many stocks and commodities traders.
For more on this subject: