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Economy in Brief

U.S. ISM Composite Index Is Highest Since 2006
by Tom Moeller  January 10, 2011

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
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