Capital Markets Update – ISM Index Finishes at 55.9
January 5th, 2010 | by admin |Quicken Loans Capital Markets Update for January 4, 2010
We are opening up with a fairly busy economic calendar this year, with some of the key releases being today’s ISM Manufacturing Index, Tuesday’s November Pending Home Sales release, and Friday’s December employment number. The ISM Index finished off on a high note today at 55.9, which is significantly higher than November’s 53.6. Readings above 50 indicate economic expansion.
The ISM Manufacturing Index is based on surveys of 300 purchasing managers nationwide, to represent 20 different industries of the manufacturing sector. This is considered the largest indicator of all manufacturing indices, and has been correlated with stock price movements.
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