Tempe, AZ, June 3--Business activity in the non-manufacturing sector increased in May 2005, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business.
The survey indicated that non-manufacturing business activity increased for the 26th consecutive month in May, however business activity increased at a slower rate in May than in April.
The report indicated that the faster rates of increase for New Orders and Backlog of Orders in May indicate that business activity in non-manufacturing industries should continue at relatively healthy levels in the near-term future.
It said the Prices Index declined in May compared to April, indicating that recent increases in energy and steel prices are being at least somewhat assimilated by various industries; this reflects the lack of continuing price increases in recent months for these basic commodities.
The 11 industries reporting growth in May — listed in order — are: Insurance; Real Estate; Communication; Utilities; Other Services; Retail Trade; Health Services; Construction; Business Services; Public Administration; and Wholesale Trade.
The five industries reporting activity the same as last month are: Agriculture; Mining; Transportation; Finance & Banking; and Legal Services. The one industry reporting decreased activity from the prior month is Entertainment.
