Non-Manufacturing Index Dropped Slightly in January
Tempe, AZ, February 5, 2019-The January Non-Manufacturing Index (NMI) registered 56.7%, which is 1.3 percentage points lower than the December reading of 58%, according to the latest Non-Manufacturing ISM Report On Business.
This represents continued growth in the non-manufacturing sector, at a slower rate. The Non-Manufacturing Business Activity Index decreased to 59.7%, 1.5 percentage points lower than the December reading of 61.2%, reflecting growth for the 114th consecutive month, at a slower rate in January.
The New Orders Index registered 57.7%, 5 percentage points lower than the reading of 62.7% in December.
The Employment Index increased 1.2 percentage points in January to 57.8% from the December reading of 56.6%.
The Prices Index increased 1.4 percentage points from the December reading of 58% to 59.4%, indicating that prices increased in January for the 20th consecutive month.
According to the NMI, 11 non-manufacturing industries reported growth. The non-manufacturing sector’s growth rate cooled off in January.
The 11 non-manufacturing industries reporting growth in January-listed in order-are transportation & warehousing; health care & social assistance; mining; accommodation & food services; wholesale trade; finance & insurance; utilities; real estate, rental & leasing; construction; professional, scientific & technical services; and public administration. seven non-manufacturing industries reported contraction in january in the following order: retail trade; educational services; information; agriculture, forestry, fishing & hunting; arts, entertainment & recreation; management of companies & support services; and other services.