ISM Services & Factory Orders

Summary: Factory orders confirms the brakes have been slammed on, with 8% drop in non defense capital goods orders.

ISM Services validates the roll over with contraction for 2nd straight month.

Factory Orders Jan -2.5% vs prior +2% Full Report

Inside the number: Table 2 Preliminary: ex transport -0.4%; ex defense -2%; with unfilled orders -6.8%; durable goods -5.1%

Table 5 Preliminary: construction -0.6%; computers -11.8%; motor vehicle -0.4%; consumer goods -0.2%

capital goods -9.7%; non defense capital goods -8.2%; non defense capital goods ex aircraft -1.5%

ISM Services Feb 49.3 vs prior 44.6 Full Report

Inside the number: Readings under 50 indicate contraction. Business activity 50.8 vs 41.9; new orders 49.6 vs 43.5;

employment 46.9 vs 43.9; backlog 49.5 vs 46; export orders 46.5 vs 52; imports 49 vs 41.5