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Afternoon Note

Strong Economic Base and Surge in Service Economy

By Charles Payne, CEO & Principal Analyst
10/4/2017 1:20 PM
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Don’t think the economic needle is moving in the heartland?  Goods producing jobs, what I like to call ‘dirty fingernail jobs,’ are on fire. 

There has already been a 400% increase in goods producing jobs from 2016, and there’s still three months remaining in the year.

Monthly Average

Service Economy

The ISM Non-Manufacturing Report came in with headline number of 59.8, the estimate was 55.2. 

Highlights include:

The release confirms strength across the economic spectrum that looks not only sustainability, but also likely to gain momentum.

ISM Service Report

The 10 industries reporting an increase in employment in September:

The 5 industries reporting a reduction in employment in September

The major indices are all in the green but advancers lag decliners 1366/1453 on the NYSE, while advances led decliners on the NASDAQ 1521/1237.

Let’s hold off for now


Comments
i heard that AMZN is building another distribution center here in my home town. DuPage County is very strong Republican CONSERVATIVE so the tax base is a number of points less than Cook County where they are suffering from a sugar tax and it must not be doing well cuz now that ppl from Cook County get their gas here they now are doing their grocery shopping here...Libs just don't get it and get this Michael Bloomberg is paying for all the Sugar Tax Ads on TV. wow Gas here is 70 cents a gallon less than Chicago due to Cook County gas taxes.

robb rogers on 10/4/2017 4:48:07 PM
 

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