FYI- The chart looks a bit off. You show ISM services at ~55, whereas the latest figure is 50.6.
It's not off, it's just that there are two general indices for the non-manufacturing sector. I've traditionally used the one that is now 55, whereas the press seems to focus on the one that is 50.6. Both show the same pattern, just different levels.
missed the "business activity" wording.thanks for the clarification
There seems to be reluctance for businesses to commit..the ratio ofISM non manufacturing business activity to ISM non manufactringemployment has averaged 1.12 but todays number has the ratio at 1.34...we have the business activity but the hiring hasn't started yet at list by this index.
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