Two economic numbers that receive a lot of attention were released this morning. 

ADP Employment Report –

The ADP report captures attention as it is usually released two days before the closely watched Non-Farm Payroll release. The ADP report for January indicates that 170,000 new private sector jobs were created in January. This is a bit below the market expectation of 185,00 to 200,000. Also, there was a downward revision of the December 2011 ADP number. Previously it was reported that 325,000 new jobs were created in December, that figure now appears to be 292,000. The ADP result has spotty track record as an indication of what the Non-Farm Payroll report will say. In a little less than 48 hours we will know if the ADP number is an indication of a light payroll result on Friday.

ISM Manufacturing Index –

This index tracks the purchasing activity for a wide variety of industries and is considered the best benchmark for manufacturing activity in the US. The number may range between 0 and 100. When above 65 it is considered an indication of a growing economy, if below 40 indicates a contracting economic environment. For January the ISM Manufacturing Index came in at 54.1 which was in line with market expectations and may be considered an indication of moderate economic growth.

As for me, I am typing this on a plane heading to Seattle to deliver our first free Index Seminar for 2012. Check for more information.