Non-Manufacturing Index Contracted Slightly in February
Tempe, AZ, March 5, 2018-The Non-Manufacturing Index for February registered 59.5%, which is 0.4 percentage point lower than the January reading of 59.9%, according to the latest Non-Manufacturing ISM Report On Business.
This represents continued growth in the non-manufacturing sector at a slightly slower rate. The Non-Manufacturing Business Activity Index increased to 62.8%, 3 percentage points higher than the January reading of 59.8%, reflecting growth for the 103rd consecutive month, at a faster rate in February.
The New Orders Index registered 64.8%, 2.1 percentage points higher than the reading of 62.7% in January.
The Employment Index decreased 6.6 percentage points in February to 55% from the January reading of 61.6%.
The Prices Index decreased by 0.9 percentage point from the January reading of 61.9% to 61%, indicating that prices increased in February for the 24th consecutive month.
The 16 non-manufacturing industries reporting growth in February-listed in order-are educational services; transportation & warehousing; utilities; real estate, rental & leasing; wholesale trade; finance & insurance; management of companies & support services; professional, scientific & technical services; health care & social assistance; other services; construction; mining; public administration; retail trade; agriculture, forestry, fishing & hunting; and information. The two industries reporting contraction in February