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.



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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.

Cash_is_Trash's picture

Manufacture and store.

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!



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.

Cash_is_Trash's picture

The U.S. job market sucks donkey balls.

LongSoupLine's picture

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

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)

Magic Mamaliga's picture


Thanks for the perspective...

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.

Id fight Gandhi's picture

With numbers so great QE is done right?

unionbroker's picture

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

Sudden Debt's picture

Are prostitutes also in the "service sector"?

and then you also have the masseuses,...



toolgravy's picture

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

whatz that smell's picture

forget the fucking dip;

Buy The Fucking Gap!

have a happy BTFG day, bitchz.

whatz that smell's picture

forget the fucking dip;

Buy The Fucking Gap!

have a happy BTFG day, bitchz.

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.


max2205's picture

Inventory rebuild bichizzzesss