The ISM Non-Manufacturing Index decreased to 50.6 in October, worse than the expected increase to 51.5 from a 50.9 level in September which was a 2.5% increase from the August level of 48.4 and the first month showing expansion in the index since September of 2008.  Although the index above the 50 level indicates expansion in the Non-Manufacturing sector, the decrease in the index shows this comes at a slower pace.  9 industries reported expansion: Real Estate, Rental & Leasing; Management of Companies & Support Services; Construction; Utilities; Retail Trade; Educational Services; Health Care & Social Assistance; Professional, Scientific & Technical Services; and Wholesale Trade.  7 of the industries reported contraction: Arts, Entertainment & Recreation; Other Services; Accommodation & Food Services; Transportation & Warehousing; Public Administration; Finance & Insurance; and Information. 

The FOMC Policy statement is scheduled today at 2:15 PM EST at the conclusion of the Board of

Factory Orders increased by 0.4% in July to $349.0 billion, was expected to decrease by 0.6% following the 1.1% increase in May (revised downward from 1.2%).  Since July 2008, factory orders have fallen by 19.7%.  Excluding transportation, factory orders increased by 2.3% in July and have also decreased by 19.7% over the past 12 months.

The ISM Services Index fell to 46.4 in July from the June reported level of 47 in June, following a reading of  44 (from 43.7) in May.  The index was expected to show an increase to 48.1.  A reading below 50 implies contraction of the non-manufacturing section for the 10th consecutive month.  The following industries in the survey reported growth: Real Estate, Rental & Leasing; Arts, Entertainment & Recreation; Agriculture, Forestry, Fishing & Hunting; Mining; Information; Health Care & Social Assistance; and Retail Trade.  10 industries reported contraction: Other Services; Management of Companies

The ISM Services Index increased to 47 in June, was expected to increase to 46.1 for the month, after increasing to 44 (from 43.7) in May.  A reading below 50 implies contraction of the non-manufacturing section for the 9th consecutive month, but with a rising index, the pace of contraction is declining.  The following 6 industries reported growth over the month: Real Estate, Rental & Leasing; Arts, Entertainment & Recreation; Accommodation & Food Services; Finance & Insurance; Construction; and Information.  The remaining 11 industries in the index reported contraction: Mining; Agriculture, Forestry, Fishing & Hunting; Wholesale Trade; Transportation & Warehousing; Retail Trade; Management of Companies & Support Services; Public Administration; Health Care & Social Assistance; Professional, Scientific & Technical Services; Educational Services; and Other Services.

The index's complement, the ISM Manufacturing Index, increased to 44.8 in June, was expected to increase to 44.6, from 42.8 in

Factory Orders are up by 0.7% in April to $344.4 billion, were expected to increase by 0.8%, and are up 2 of the past 3 months, after falling by 1.9% in March and increasing by 0.7% in February. Excluding transportation, new factory orders also increased by 0.1%. Over the past 12 months, the volume of new orders had fallen by 23.1%.

The ISM Services Index for May increased to 44 from April's level of 43.7, although less than the expected level of 45. The index is estimated below 50 for the 8th consecutive month, meaning that it is still indicating contraction, but this contraction comes at a diminished rate indicated by the value rising.  6 of the industries in the index reported growth for the month: Real Estate, Rental & Leasing; Arts, Entertainment & Recreation; Utilities; Retail Trade; Construction; and Accommodation & Food Services. The remaining

  The ISM Services Index was reported at 40.6 for December, 3.3% higher than 37.3 in November, higher than the expected level of 36.4.  The index below 50 still indicates contraction for the third consecutive month, although at a slower rate as the index is rising.  The Non-Manufacturing Business Activity Index increased 6.6 percentage points to 39.6 percent. The New Orders Index increased 4.5 percentage points to 39.9 percent, and the Employment Index increased 3.4 percentage points to 34.7 percent.  Retail Trade reported growth in December attributed due to additional spending for the holiday season.  The remaining 17 industries,  reporting contraction in December,  are: Wholesale Trade; Professional, Scientific & Technical Services; Mining; Utilities; Transportation & Warehousing; Educational Services; Agriculture, Forestry, Fishing & Hunting; Other Services; Arts, Entertainment & Recreation; Management of Companies & Support Services; Public Administration; Finance & Insurance; Accommodation & Food Services; Construction;