ISM: Non-Manufacturing Sector Closes Year on Strong Note



Economic activity in the non-manufacturing sector grew in December for the 83rd consecutive month, according to purchasing and supply executives in the latest non-manufacturing report from the Institute for Supply Management.

The NMI reached its 12-month high again during the month, hitting 57.2% in December, matching the number from November.

The new orders index jumped 4.6% to 61.6% from the November reading and the prices index had a slight bump (0.7%) to 56.3%, which means prices increased in December for the ninth-straight month and at a faster rate.

Although the non-manufacturing business activity index decreased to 61.4% in December it was just a drop of 0.3% and still indicates growth for the 89th consecutive month.

Meanwhile, the employment index fell by 4.4% in December to 53.8%.

According to the report, 12 non-manufacturing industries saw growth in December including mining, retail trade as well as finance and insurance.

“The non-manufacturing sector closed out the year strong, maintaining its rate of month-over-month growth,” said Anthony Nieves, chair of the ISM non-manufacturing business survey committee. “Respondents’ comments are mostly positive about business conditions and the overall economy.”


Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
terry.mulreany@monitordaily.com
Susie Angelucci
Advertising: 484.459.3016
susie.angelucci@monitordaily.com

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.
www.abfjournal.com