Economists are preparing for the announcement by the Institute for Supply Management’s announcement which will show whether or not the US economy is in fact growing.
The analysts are predicting that the ISM rose slightly from July to August, reaching 52.8; a slight increase from the 52.6 July figure. This analysis was based on a survey conducted by FactSet. Any number above 50 indicates the economy is expanding, even if it may be very slowly.
The official report of the ISM should appear by 10am on Thursday.
This survey looks at non-manufacturing companies, as the ISM is a trade group of purchasing managers. Service companies make up about 90 percent of the US workforce including retail and construction jobs to health care and financial services companies.
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