The Institute for Supply Management issued [its latest survey results] on March 4th that U.S. non-manufacturing expanded at a rate slightly better than expected in February. The ISM stated that “overall, supply managers feel mostly positive about the direction of the economy.” Despite this positive outlook, ISM non-manufacturing members said labor problems at West Coast ports were causing a disruption in supply, stating “Business is good, but waiting and not shipping on time will cost us big time.” Some economists attributed this weakness to a possible There’s also the weather effect. 181,000 new jobs were created in February according to the ADP jobs report. It is interesting that service-sector activity increased in February despite these supply disruptions.
Source: http://www.wsj.com/articles/ism-non-manufacturing-index-edges-up-to-56-9-in-february-1425482198
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What is the ISM survey, how is it conducted, and what detail does it provide? Are there other sources of (monthly) information on manufacturing?
ADP = ?
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