Pantheon Macroeconomics - The headline ISM non-manufacturing index is not, in our view, a leading indicator of anything much. The survey covers a broad array of non manufacturing activity, including mining, healthcare, and financial services, but most of the time it tends to follow the track of real core retail sales, as our first chart shows.

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03 Mar. 2016 ISM Non-manufacturing Set to Rebound, Lagging Core Sales

By Ian Shepherdson

The headline ISM non-manufacturing index is not, in our view, a leading indicator of anything much. The survey covers a broad array of non manufacturing activity, including mining, healthcare, and financial services, but most of the time it tends to follow the track of real core retail sales, as our first chart shows.

Posted: 3rd Mar 2016 in 'U.S. Documents'

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