I didn’t take this job in order to write about the improving United States economy, I was given an opportunity based on the sorry conditions facing this nation and the monkeys responsible. I had hoped to speak of all ills with a keenly edged vitriol that bristled with fire and brimstone, imagine my shock as once again today I am kept from this and forced to report ever brightening reports on the future of the US economy.
Stocks rose today in early trading on consecutive reports of a silver lining. The Institute of Supply Management reported that its index that tracks non-manufacturing growth, the service sector, rose to a level not seen in over two years. It showed a rise to 53, from the already sunny 50.5 mark in January. The index once over 50 predicts further growth while numbers under fifty suggest a contraction.
Often in news or index reports such as this there is an upturn in a particular facet of the sector; this was not the case in February’s numbers that showed an improvement in new orders, both foreign and domestic, as well as production, and deliveries.
In other news that makes it difficult to hate and rail against those responsible for this downturn, employment numbers showed signs of improvement.
In a report by ADP, a private payroll service provider, the United States may have only cut 20000 jobs in the private sector last month, the fewest lost jobs in a monthly reading in over two years. These ADP numbers look good in a vacuum, but analysts still expect the US Labor Department report to be released Friday to show slightly higher unemployment and a loss in non-farm salaries.
All indicators short of consumer confidence numbers from the last two weeks indicate, that what Sam Cooke once sang was accurate, “A Change Goin Come.”