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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Haim R. Branisteanu who wrote (10158)8/4/2004 11:19:59 AM
From: mishedlo  Read Replies (1) of 116555
 
.S. July nonmanufacturing index expands to 64.8%
Wednesday, August 4, 2004 2:21:49 PM
WASHINGTON (AFX) -- Activity in the service sectors of the U.S. increased in July, the Institute for Supply Management reported Wednesday. The ISM's nonmanufacturing index rose to 64.8 percent from 59.5 percent in June, indicating a faster pace of expansion. The gain was larger than expected. Economists expected the index to rise to 61.1 percent. Readings over 50 percent in the diffusion index indicate expansion in those sectors. Twelve of 17 industries grew in July. New orders rose to 66.4 percent from 64.2 percent. However, the employment index fell to 50.0 percent from 57.4 percent. The prices paid index fell to 73.1 percent from 76.6 percent

Gee we are doing more with fewer people at reduced prices.
Employment index about ready to contract.

Mish
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