Non-manufacturing Activity Grows, But Some Sectors Slow

Economic activity in the non-manufacturing sector grew in March for the 62nd consecutive month, according to the nation’s purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business, but the trend for some sectors is slowing.

The report was issued by Anthony Nieves, chair of the Institute for Supply Management® (ISM®) Non-Manufacturing Business Survey Committee. Let’s go the numbers:

“The NMI® registered 56.5 percent in March, 0.4 percentage point lower than the February reading of 56.9 percent. This represents continued growth in the non-manufacturing sector. The Non-Manufacturing Business Activity Index decreased to 57.5 percent, which is 1.9 percentage points lower than the February reading of 59.4 percent, reflecting growth for the 68th consecutive month at a slower rate.”

• The New Orders Index registered 57.8 percent, 1.1 percentage points higher than the reading of 56.7 percent registered in February.
• The Employment Index increased 0.2 percentage point to 56.6 percent from the February reading of 56.4 percent and indicates growth for the 13th consecutive month.
• The Prices Index increased 2.7 percentage points from the February reading of 49.7 percent to 52.4 percent, indicating prices increased in March after three consecutive months of decreasing.

Category: Featured, General Update