(Tempe, Arizona) – Economic activity in the non-manufacturing sector grew in August for the 115th consecutive month, say the nation’s purchasing and supply executives in the latest Non-Manufacturing ISM® Report On Business®.
The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management® (ISM®) Non-Manufacturing Business Survey Committee: “The NMI® registered 56.4 percent, which is 2.7 percentage points higher than the July reading of 53.7 percent. This represents continued growth in the non-manufacturing sector, at a faster rate. The Non-Manufacturing Business Activity Index increased to 61.5 percent, 8.4 percentage points higher than the July reading of 53.1 percent, reflecting growth for the 121st consecutive month. The New Orders Index registered 60.3 percent; 6.2 percentage points higher than the reading of 54.1 percent in July. The Employment Index decreased 3.1 percentage points in August to 53.1 percent from the July reading of 56.2 percent. The Prices Index increased 1.7 percentage points from the July reading of 56.5 percent to 58.2 percent, indicating that prices increased in August for the 27th consecutive month. According to the NMI®, 16 non-manufacturing industries reported growth. The non-manufacturing sector’s rate of growth rebounded after two consecutive months of cooling off. The respondents remain concerned about tariffs and geopolitical uncertainty; however, they are mostly positive about business conditions.”
INDUSTRY PERFORMANCE
The 16 non-manufacturing industries reporting growth in August — listed in order — are: Real Estate, Rental & Leasing; Accommodation & Food Services; Public Administration; Retail Trade; Utilities; Construction; Professional, Scientific & Technical Services; Other Services; Agriculture, Forestry, Fishing & Hunting; Transportation & Warehousing; Finance & Insurance; Health Care & Social Assistance; Arts, Entertainment & Recreation; Information; Mining; and Management of Companies & Support Services. The only industry reporting a decrease is Wholesale Trade.
ISM - ISM Report - August 2019 Non-Manufacturing ISM® Report On Business®
To read the original report: Click here