Non-Manufacturing Index Posted Gain in June
Tempe, AZ, July 6, 2020-The Non-Manufacturing Index (NMI) registered 57.1% in June, 11.7 percentage points higher than the May reading of 45.4%, according to the Non-Manufacturing ISM Report On Business.
This reading represents growth in the non-manufacturing sector after a two-month period of contraction preceded by 122 straight months of expansion. This is the largest single-month percentage-point increase in the NMI since its debut in 1997. (In April, the index suffered its biggest one-month decrease, a 10.7% drop.) The Business Activity Index registered 66%, up 25 percentage points from May’s figure of 41%. The New Orders Index registered 61.6%; 19.7 percentage points higher than the reading of 41.9% in May. The Employment Index increased to 43.1%; 11.3 percentage points higher than the May reading of 31.8%.
The 14 non-manufacturing industries reporting growth in June-listed in order-are agriculture, forestry, fishing & hunting; accommodation & food services; wholesale trade; real estate, rental & leasing; health care & social assistance; construction; retail trade; utilities; transportation & warehousing; arts, entertainment & recreation; information; finance & insurance; public administration; and professional, scientific & technical services. The three industries reporting a decrease in June are mining; other services; and management of companies & support services.