» ISM Non-Manufacturing: Weak Employment Decision Economics

ISM Non-Manufacturing: Weak Employment

Posted March 5, 2014 by rvillareal

The February Non-Manufacturing ISM Survey comes in weaker than expected, falling 2.4 points to 51.6 (Consensus: -0.5 point, to 53.5; Decision Economics: unch), from a prior-month level of 54.0. Weakness was overwhelmingly concentrated in the Employment sub-index, posing a risk to higher-end payroll forecasts (DE is below Consensus on the upcoming nonfarm payroll figure). Survey respondents cited weather, but also general caution regarding business conditions.[private]US_14-0305_E1[/private]