June Non-Manufacturing Index Fell But Remained Positive
Tempe, AZ, July 3, 2019-The Non-Manufacturing Index for June registered 55.1%, which is 1.8 percentage points lower than the May reading of 56.9%, according to the Non-Manufacturing ISM Report On Business.
This represents continued growth in the non-manufacturing sector, at a slower rate.
This is the index’s lowest reading since July 2017, when it registered 55.1%.
The Non-Manufacturing Business Activity Index decreased to 58.2%, 3 percentage points lower than the May reading of 61.2%, reflecting growth for the 119th consecutive month.
The New Orders Index registered 55.8%; 2.8 percentage points lower than the reading of 58.6% in May.
The Employment Index decreased 3.1 percentage points in June to 55% from the May reading of 58.1%.
The Prices Index increased 3.5 percentage points from the May reading of 55.4% to 58.9%, indicating that prices increased in June for the 25th consecutive month.
According to the NMI, 16 non-manufacturing industries reported growth.
The 16 non-manufacturing industries reporting growth in June-listed in order-are real estate, rental & leasing; other services; finance & insurance; accommodation & food services; health care & social assistance; mining; construction; educational services; professional, scientific & technical services; utilities; public administration; information; management of companies & support services; transportation & warehousing; retail trade; and wholesale trade. The only industry reporting a decrease is arts, entertainment & recreation.