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Services ISM Prints Better Than Expected; Prices, Inventories At Multi-Year Highs
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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With infinite money ,ammo , its easy to hyperinflate economies and make them think they are richer ...
Thanks Bernanke for destroying world commerce.
Manufacture and store.
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/
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.
The U.S. job market sucks donkey balls.
Just went long (all in) the Donkey Ball ETF: DBALLS
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)
+100
Thanks for the perspective...
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.
With numbers so great QE is done right?
me, i'm hiring two people full time to push my car around it's cheaper than buying gas
Are prostitutes also in the "service sector"?
and then you also have the masseuses,...
SERVICE ME BITCH!!
Tyler-wrong graphic for inventory...i think.
forget the fucking dip;
Buy The Fucking Gap!
have a happy BTFG day, bitchz.
forget the fucking dip;
Buy The Fucking Gap!
have a happy BTFG day, bitchz.
"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.
Inventory rebuild bichizzzesss