Non-Manufacturing Index Down but Still Positive in March
Tempe, AZ, April 3, 2019-The March Non-Manufacturing Index (NMI) registered 56.1%, which is 3.6 percentage points lower than the February reading of 59.7%, 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 57.4%, 7.3 percentage points lower than the February reading of 64.7%, reflecting growth for the 116th consecutive month, at a slower rate in March.
The New Orders Index registered 59%, 6.2 percentage points lower than the reading of 65.2% in February.
The Employment Index increased 0.7 percentage point in March to 55.9% from the February reading of 55.2%.
The Prices Index increased 4.3 percentage points from the February reading of 54.4% to 58.7%, indicating that prices increased in March for the 22nd consecutive month.
The 16 non-manufacturing industries reporting growth in March-listed in order-are construction; other services; professional, scientific & technical services; health care & social assistance; accommodation & food services; public administration; mining; management of companies & support services; agriculture, forestry, fishing & hunting; transportation & warehousing; real estate, rental & leasing; information; arts, entertainment & recreation; utilities; finance & insurance; and wholesale trade. The two industries that contracted in March are educational services; and retail trade.