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Services ISM Prints Better Than Expected; Prices, Inventories At Multi-Year Highs

Tyler Durden's picture




 

Another glorified confidence index based on surveys comes in, and prints not surprisingly at a better than expected 59.7, on expectations of 59.3, and an improvement from last month's 59.4. From the report: " "The NMI registered 59.7 percent in February, 0.3 percentage point
higher than the 59.4 percent registered in January, and indicating
continued growth in the non-manufacturing sector. The Non-Manufacturing
Business Activity Index increased 2.3 percentage points to 66.9 percent,
reflecting growth for the 19th consecutive month and at a faster rate
than in January. The New Orders Index decreased 0.5 percentage point to
64.4 percent, and the Employment Index increased 1.1 percentage points
to 55.6 percent, indicating growth in employment for the sixth
consecutive month and at a faster rate. The Prices Index increased 1.2
percentage points to 73.3 percent, indicating that prices increased at a
faster rate in February. According to the NMI, 13 non-manufacturing
industries reported growth in February. Respondents' comments overall
are mostly positive about business conditions and the direction of the
economy." And while employment was up modestly to 55.6 from 54.5, the only two trendlines that matter were Prices (inflation) and Inventories (lack of demand), both at multi year highs. The charts speak for themselves.

Prices:

Inventories.

Full report link.

 

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Thu, 03/03/2011 - 11:18 | 1014871 hugovanderbubble
hugovanderbubble's picture

With infinite money ,ammo , its easy to hyperinflate economies and make them think they are richer ...

 

Thanks Bernanke for destroying world commerce.

Thu, 03/03/2011 - 11:18 | 1014875 Cash_is_Trash
Cash_is_Trash's picture

Manufacture and store.

Thu, 03/03/2011 - 11:18 | 1014877 Oh regional Indian
Oh regional Indian's picture

Well, that explains the surging market of the last news piece. Now we just need to know why the dollar is digging a grave and....wait for this...

Oil will be well!

hah!

ORI

http://aadivaahan.wordpress.com/2011/02/25/wisdom-for-warriors-7/

Thu, 03/03/2011 - 11:18 | 1014878 tempo
tempo's picture

To file an unemployment claim you have to lost a full time job.   The low claims files just means there are fewer and fewer people who lost full time jobs.  The bulk of the people are working part time and do not qualify to file.  The low claims number reflects the terrible job market and is not a positive this time.

Thu, 03/03/2011 - 11:21 | 1014882 Cash_is_Trash
Cash_is_Trash's picture

The U.S. job market sucks donkey balls.

Thu, 03/03/2011 - 11:22 | 1014888 LongSoupLine
LongSoupLine's picture

Just went long (all in) the Donkey Ball ETF: DBALLS

Thu, 03/03/2011 - 11:31 | 1014902 Cash_is_Trash
Cash_is_Trash's picture

DBALLS is 2X bearish on Joe Sixpack's education, savings rate, IQ and ability to understand current events.

Therefore, you must be making a killing

I'm short HUMANR (human race)

Thu, 03/03/2011 - 11:21 | 1014883 Magic Mamaliga
Magic Mamaliga's picture

+100

Thanks for the perspective...

Thu, 03/03/2011 - 11:41 | 1014945 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

Another thing to mention is companies have already laid off everyone and their brother who is not vital to operations. If they lay anyone else off it is because they are shutting down operations.

Thu, 03/03/2011 - 11:20 | 1014881 Id fight Gandhi
Id fight Gandhi's picture

With numbers so great QE is done right?

Thu, 03/03/2011 - 11:27 | 1014892 unionbroker
unionbroker's picture

me, i'm hiring two people full time to push my car around it's cheaper than buying gas 

Thu, 03/03/2011 - 11:46 | 1014970 Sudden Debt
Sudden Debt's picture

Are prostitutes also in the "service sector"?

and then you also have the masseuses,...

 

SERVICE ME BITCH!!

Thu, 03/03/2011 - 12:04 | 1015047 toolgravy
toolgravy's picture

Tyler-wrong graphic for inventory...i think.

Thu, 03/03/2011 - 12:04 | 1015050 whatz that smell
whatz that smell's picture

forget the fucking dip;

Buy The Fucking Gap!

have a happy BTFG day, bitchz.

Thu, 03/03/2011 - 12:05 | 1015052 whatz that smell
whatz that smell's picture

forget the fucking dip;

Buy The Fucking Gap!

have a happy BTFG day, bitchz.

Thu, 03/03/2011 - 12:11 | 1015062 ebworthen
ebworthen's picture

 

"The Ministry of Information reports that things are even better than we thought."

 New orders, please. 

They'll throw the crap that doesn't sell - be it food or toothpaste - in a dumpster and write it off - paying a part time twenty-something at minimum wage with no benefits to do it.

 

Thu, 03/03/2011 - 14:03 | 1015592 max2205
max2205's picture

Inventory rebuild bichizzzesss

Do NOT follow this link or you will be banned from the site!