ISM Non-Manufacturing Index Definition | Investopedia: "Investopedia explains 'ISM Non-Manufacturing Index'
By monitoring the ISM Non-Manufacturing Index, investors are able to better understand national economic conditions. When this index is increasing, investors can assume that the stock markets should increase because of higher corporate profits. The opposite can be thought of the bond markets, which may decrease as the ISM Non-Manufacturing Index increases because of sensitivity to potential inflation.
The ISM Non-Manufacturing Index gets more attention than its manufacturing counterpart, partially due to its seasonally adjusted figures for several of its components."
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