ISM Reports Growth for 61st Consecutive Month
Tempe, AZ, March 5, 2015—Economic activity in the non-manufacturing sector grew in February for the 61st consecutive month, according to the Institute for Supply Management.
The non-manufacturing index registered 56.9% in February, 0.2 percentage points higher than the January reading of 56.7%. This represents continued growth in the non-manufacturing sector.
The Non-Manufacturing Business Activity Index decreased to 59.4 percent, which is 2.1 percentage points lower than the January reading of 61.5 percent, reflecting growth for the 67th consecutive month at a slower rate.
The New Orders Index registered 56.7%, 2.8 percentage points lower than the reading of 59.5% registered in January.
The Employment Index increased 4.8% points to 56.4% from the January reading of 51.6% and indicates growth for the 12th consecutive month.
The Prices Index increased 4.2 percentage points from the January reading of 45.5% to 49.7%, indicating prices contracted in February for the third consecutive month.
According to the NMI, 14 non-manufacturing industries reported growth in February.