December 2019 ISM services sector survey
- Prior was 53.9
Details:
- Employment 55.2 versus 55.5 last month
- New orders 54.9 versus 57.1 last month
- Prices paid 58.5 vs 58.5 prior
- Supplier deliveries 52.5 versus 51.5 last month
- Order backlog 47.5 versus 48.5 last month
- Export orders 51.0 versus 52.0 last month
- Imports 48.0 versus 45.0 last month
- Inventories 51.0 versus 50.5 last month
This is a solid reading and gave the US dollar a small lift, particularly against the yen. One area of concern is the fall in new orders but it's still well-above the 50 level.
Comments in the report:
- "Growth remains steady. While late-year pricing-increase proposals were either flat or in the low single digits, most have been mitigated." (Accommodation & Food Services)
- "Weather and the holiday season have had an impact on residential new construction sales and production. While demand is outstripping supply in the housing market, business is down due to global trade insecurity causing affordability, labor and cost pressures." (Construction)
- "Supply [is] good. Holiday sales below plan." (Information)
- "Business activity and growth in our business continues to expand." (Management of Companies & Support Services)
- "Our company's production, sales and purchasing [activities] are back to normal. Maintenance, planned and otherwise, is driving the usual necessity for spare parts." (Mining)
- "New prospects have improved this month, although continuing uncertainty is causing clients to delay confirmation." (Professional, Scientific & Technical Services)
- "Budgets and business accelerating." (Public Administration)
- "The shorter-than-normal holiday season tightens sales opportunities; however, initial trends have been favorable." (Retail Trade)
- "We are seeing extended lead times for already purchased materials across the board. Suppliers, as well, are warning that they are seeing longer lead times for engineered and manufactured goods." (Utilities)
- "Overall business is down from this time last year, but sales have increased over the last month, causing more buys with our suppliers." (Wholesale Trade)
