ISI U.S. company index slips in latest week
NEW YORK, Jan 22 (Reuters) - A weekly index of U.S. business activity fell last week, but the overall economy is showing signs of resilience, the International Strategy and Investment Group said on Tuesday.
ISI's weekly company survey index fell to 38.5 in the week ended Jan. 18 from 39.7 a week earlier. The four-week moving average rose for the third straight week, to 39.6 from 39.1.
``While the path the economy takes may not be straight over the next couple of months, our company surveys suggest that the economy continues to improve,'' ISI said.
The ISI survey, which was first published in 1994, tracks revenues across a wide array of U.S. industries.
The housing market showed signs of strength last week, with the homebuilders index climbing higher to 56.1 from 52.4.
Retail sales slowed following a surprisingly healthy holiday shopping season. ISI's retail index slipped to 37.5 from 44.2.
The trucking sector entered the new year in high-gear, avoiding a slowdown that usually characterizes the start of the year for that industry, ISI said. The trucking index inched higher last week, to 37.5 from 36.4.
Activity in the banking sector was unchanged during the week, with that index holding steady at 39.1.
ISI surveys about 150 companies across the country, including retailers, auto dealers, manufacturers, home builders, airlines, banks and technology companies. A reading of zero is weak and 100 is strong.
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