The report was issued today by Anthony Nieves, C.P.M., CFPM, chair of the Institute for Supply Management™ Non-Manufacturing Business Survey Committee. "The NMI registered 57.3 percent in February, 0.5 percentage point higher than the 56.8 percent registered in January, and indicating continued growth at a faster rate in the non-manufacturing sector.
I don't know where the money is coming from, but the numbers are what they are, and expecting them to be something else doesn't make them change.
I don't know how we got these results, to be frank, especially given the ramp in gas prices, and have to wonder if the hopium game from Obama and his pals is driving people to spend more of what they don't have in the expectation of "happy days around the corner."
Whatever is in the water (or air) that prompted this, it certainly is positive considering that I was expecting something much-more-muted -- especially given the manufacturing ISM report and other economic reports that have been quite muted.
It'll be interesting to see what comes from the NFP report on Friday, given this and the embedded employment figures.
Where We Are, Where We're Heading (2013) - The annual 2013 Ticker
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