Weekly Market Insight • ISM Indexes • 03/05/12

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ISM Indexes
Values > 50 = Expansion
March 05, 2012

Sources: Institute for Supply Management, Grubb & Ellis

The Institute for Supply Management’s indexes for the manufacturing and nonmanufacturing (service) sectors of the economy registered 52.4 and 57.3, respectively, last month, pointing to continued growth. The indexes, which are based on monthly surveys of purchasing managers across a range of businesses, are at odds with other data points suggesting stronger growth in manufacturing and more modest growth in the service sector. The two surveys include several sub-indexes such as new orders and employment, among others. The new orders component, which correlates with future production, came in at 54.9 for manufacturers and a robust 61.2 for service firms, pointing to economic momentum in the months ahead. The employment index points to continued job creation, registering 53.2 for manufacturers and 55.7 for service firms. Taken together, the two surveys paint a picture of an economy that is expanding at a steady pace. For commercial real estate, the reports suggest modest tightening in the months ahead with the tenants’ market, which has been in place since 2008, loosening at a gradual pace.
Robert Bach, Senior Vice President, Chief Economist, has 30 years of professional experience in real estate market research, consulting and city planning. His commentary on the real estate markets is provided here on a weekly basis.

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Robert Bach
Senior Vice President, Chief Economist

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© 2012 Grubb & Ellis, all rights reserved.

About CRE Northwest

Specialist in office & investment real estate in Seattle & the Eastside
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