With a federal budget deficit still as large as it is, not all that much of a surprise.
Karim writes:
Nice upside surprise:
- Orders and employment both up on the month; export orders up sharply (but not seasonally adjusted)
| Sept | Aug | |
| Composite | 53.2 | 51.5 |
| Activity | 52.8 | 54.4 |
| Prices Paid | 60.1 | 60.3 |
| New Orders | 54.9 | 52.4 |
| Employment | 50.2 | 48.2 |
| Export orders | 58.0 | 46.5 |
| Imports | 53.0 | 50.5 |
- “General state of the business has not changed in the last three months. The market is still soft for new sales due to financing requirements.” (Construction)
- “Business seems to be flat from last month.” (Finance & Insurance)
- “Signs that the economy may be improving, but our sector is still flat or declining.” (Professional, Scientific & Technical Services)
- “Business activity is generally stable — slightly better than last year.” (Accommodation & Food Services)
- “Third quarter is looking profitable with improving confidence and expectations in the economy. Capital expenditures are being approved.” (Wholesale Trade)