Service Sector Index Rose to 58.6% in May

Tempe, AZ, June 5, 2018-May's Non-Manufacturing Index (NMI) registered 58.6%, which is 1.8 percentage points higher than the April reading of 56.8%, according to the Non-Manufacturing ISM Report on Business.

This represents continued growth in the non-manufacturing sector at a faster rate.

The Non-Manufacturing Business Activity Index increased to 61.3%, 2.2 percentage points higher than the April reading of 59.1%, reflecting growth for the 106th consecutive month, at a faster rate in May.

The New Orders Index registered 60.5%, 0.5 percentage point higher than the reading of 60% in April.

The Employment Index increased 0.5 percentage point in May to 54.1% from the April reading of 53.6%.

The Prices Index increased by 2.5 percentage points from the April reading of 61.8% to 64.3%, indicating that prices increased in May for the 27th consecutive month.

The 14 non-manufacturing industries reported growth in May-listed in order-are wholesale trade; mining; real estate, rental & leasing; construction; retail trade; management of companies & support services; professional, scientific & technical services; transportation & warehousing; public administration; agriculture, forestry, fishing & hunting; accommodation & food services; finance & insurance; utilities; and other services. The only industry reporting a decrease is Information.