The U.S. ISM-NMI surged to an 11-month high of 57.1
The U.S. ISM-NMI surged to an 11-month high of 57.1 from a 6-year low of 51.4 in August, versus a 10-year high of 59.6 in July of 2015. The ISM-adjusted ISM-NMI rose to 56.0 from a 6-year low of 50.7 in August, versus an 8-month high of 56.3 in June and a 10-year high of 59.0 in July of 2015. Analysts saw September bounces after August declines in every component but deliveries. For the September factory surveys, analysts saw an ISM rise to 51.5 from a 7-month low of 49.4, a Chicago PMI rise to 54.2 from 51.4, a Richmond Fed rise to -2.0 from a 3-year low of -11.0, a Dallas Fed rise to -3.7 from -6.2, a Philly Fed bounce to 12.8 from 2.0, and an Empire State rise to -1.99 from -4.21. The mix allowed the ISM-adjusted average of the major surveys to remain at the same 50 level seen in August, and previously in May and June, versus the 49 expansion-low in January and February, and previously in October of 2012. Analysts saw a 12-month high of 52 in both July and March. The ISM-NMI figures remain stronger than factory sentiment as the service sector benefits from the boost to household purchasing power from the lower gasoline prices that have depressed factory activity.