Non-Manufacturing Index Rose to 56.9% in May
Tempe, AZ, June 5, 2019-The Non-Manufacturing Index (NMI) for May registered 56.9%, which is 1.4 percentage points higher than the April reading of 55.5%.
This represents continued growth in the non-manufacturing sector, at a slightly faster rate.
The Non-Manufacturing Business Activity Index increased to 61.2%, 1.7 percentage points higher than the April reading of 59.5%, reflecting growth for the 118th consecutive month, at a faster rate in May.
The New Orders Index registered 58.6%; 0.5 percentage point higher than the reading of 58.1% in April.
The Employment Index increased 4.4 percentage points in May to 58.1% from the April reading of 53.7%.
The Prices Index decreased 0.3 percentage point from the April reading of 55.7% to 55.4%, indicating that prices increased in May for the 24th consecutive month.
The 16 non-manufacturing industries reporting growth in May-listed in order-are accommodation & food services; educational services; management of companies & support services; construction; transportation & warehousing; real estate, rental & leasing; utilities; wholesale trade; public administration; professional, scientific & technical services; mining; health care & social assistance; other services; finance & insurance; information; and retail trade. The only industry reporting a decrease is agriculture, forestry, fishing & hunting.