Global| Jan 10 2011U.S. ISM Composite Index Is Highest Since 2006
by:Tom Moeller
|in:Economy in Brief
Summary
Haver Analytics constructs an ISM Composite Index based on the previously published ISM manufacturing and nonmanufacturing reports. For December, the index rose to 57.1, its highest level since 2006. From September-to-December, the [...]
Haver Analytics constructs an ISM Composite Index based on the previously
published ISM manufacturing and nonmanufacturing reports. For December, the
index rose to 57.1, its highest level since 2006. From September-to-December,
the composite index grew 3.8 percentage points as the nonmanufacturing series
grew 3.9 percentage points to 57.1 versus a 2.6 point increase in the factory
sector index to 57.0. During the last ten years there has been a 72% correlation
between the composite index level and the q/q change in real GDP.
The ISM composite index for the manufacturing and nonmanufacturing sectors is calculated by Haver Analytics using GDP by industry data from the BEA for the sector weights. The Institute for Supply Management (ISM) data are available in Haver's USECON database.
The Economic Outlook is today's speech by Fed Governor Elizabeth A. Duke and it can be found here.
| ISM Survey | Dec | Nov | Oct | Dec'09 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|
| Composite Index | 57.1 | 55.2 | 54.6 | 50.4 | 54.5 | 46.2 | 47.1 |
| Factory Sector | 57.0 | 56.6 | 56.9 | 54.9 | 57.3 | 46.2 | 45.5 |
| Nonmanufacturing | 57.1 | 55.0 | 54.3 | 49.8 | 54.1 | 46.2 | 47.3 |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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