Results of the ISM services survey
- Prior was 55.9
- Full report
Details:
- business activity 59.4 vs. 58.0 last month
- new orders 58.5 vs. 57.2 last month
- backlog of orders 48.7 vs. 50.7 last month
- employment to 48.2 from 51.5 last month
- new export orders 57.3 vs. 50.4 last month
- imports 51.8vs. 55.0 last month
- supplier deliveries 62.8 vs. 57.0 last month
- inventory change 58.2 vs. 49.3 last month
- inventory sentiment 47.7 vs. 49.9 last month
This is has given a fresh lift to equities.
Comments in the report:
- "Starting to see demand weakening as states go back to shut down. Will look to see business resume in late first quarter, as vaccine distribution takes place." (Accommodation & Food Services)
- "Lack of labor continues to be a significant drag on the business. We have plenty of work but are now considering rejecting some orders due to shrinking capacity." (Construction)
- "Continued local and state shutdowns negatively impacting a variety of operations. Notably, shipping delays are beginning to affect operations as [parcel companies] all struggle under the strain of holiday-shipping demand. Construction and services continue to also be challenged, as COVID-19 infections become more pervasive with workers calling out to quarantine, etc." (Educational Services)
- "COVID-19 continues to be an impediment to normalized business operations, and the pandemic is not abating - only worsening as [we] get into the winter months. Stocks of personal protective equipment [PPE] are adequate but not sufficient for most categories, with the exception of nitrile exam gloves, which are in extremely short supply internationally. Our hospital system achieved 94- percent capacity in our intensive care units and continued to hover around that number with new admissions, fatalities and discharges on a daily basis. This situation continues to impede normal revenue-generating surgical volumes." (Health Care & Social Assistance)
- "Deliveries as a whole, are slowing down considerably. Between COVID-19, the holidays, and inclement weather of late, the remainder of [2020] stands to be very challenging regarding maintaining adequate materials for operations." (Professional, Scientific & Technical Services)
- "Business quite good, all things considered, although below the original 2020 planned forecast." (Real Estate, Rental & Leasing)
- "Business conditions are improving with increased volume, but [growth has] slowed slightly due to COVID-19 shutdowns in some states." (Transportation & Warehousing)
- "The general business conditions are steady/stable. Expecting a very slight slowdown to end the year, with a rebound in mid-January." (Utilities)
- "We have seen a growing number of product shortages and increased lead times during the last quarter." (Wholesale Trade)
