The ISM Services Index increased to 50.1 in December of 2009, less than the expected to increase to 50.4, following a drop to 48.7 in November from 50.6 in October. An estimated reading above 50 indicates expansion for the non-manufacturing components of the economy, although quite marginally. The index’s complement, the ISM Manufacturing Index rose to 55.9 on Monday’s release after falling to 53.6 in November.
Crude inventories are expected today at 10:30 AM EST. For the week ending December 25, U.S. commercial crude oil inventories had decreased by 1.5 million barrels from the previous week to 326.0 million barrels and were near the upper limit of the average range for that time of year. U.S. crude oil refinery inputs averaged 13.9 million barrels per day during this period, 102 thousand barrels per day above the previous week’s average. U.S. crude oil imports were averaging 8.0 million barrels per day, up 320 thousand barrels per day from the previous week.
Upcoming Releases
ISM Services Index (01/06 at 10:00 AM EST)
Crude Inventories (01/06 at 10:30 AM EST)
Initial Claims (01/07 at 8:30 AM EST)
Unemployment Rate (01/08 at 8:30 AM EST)
