Non-Manufacturing Index Bumps Up to 60.1% in September

Tempe, AZ, November 3, 2017-The Non-Manufacturing Index (NMI) registered 60.1%, which is 0.3 percentage point higher than the September reading of 59.8%, according to the latest Non-Manufacturing ISM Report On Business.

This represents continued growth in the non-manufacturing sector at a slightly faster rate. This is the highest NMI reading since the index’s debut in 2008. The highest reading among pre-2008 composite index calculations is 61.3% in August 2005.

The Non-Manufacturing Business Activity Index increased to 62.2%, 0.9 percentage point higher than the September reading of 61.3%, reflecting growth for the 99th consecutive month, at a slightly faster rate in October.

The New Orders Index registered 62.8%, 0.2 percentage point lower than the reading of 63% in September.

The Employment Index increased 0.7 percentage point in October to 57.5% from the September reading of 56.8%.

The Prices Index decreased by 3.6 percentage points from the September reading of 66.3% to 62.7%, indicating prices increased in October for the fifth consecutive month.

The 16 non-manufacturing industries reporting growth in October-listed in order-are Agriculture, Forestry, Fishing & Hunting; Construction; Transportation & Warehousing; Mining; Real Estate, Rental & Leasing; Utilities; Other Services; Wholesale Trade; Management of Companies & Support Services; Retail Trade; Finance & Insurance; Health Care & Social Assistance; Public Administration; Information; Professional, Scientific & Technical Services; and Accommodation & Food Services.

The two industries reporting contraction in October are Educational Services; and Arts, Entertainment & Recreation.