ISM: Non-Manufacturing Sector Experiences Growth for 90th Straight Month



According to the latest report from the Institute for Supply Management, economic activity in the non-manufacturing sector grew in June for the 90th consecutive month.

In conjunction with the economic growth, the June NMI recorded 57.4%, which is 0.5% higher than the May reading of 56.9%. That means the non-manufacturing sector grew at a slightly faster rate.

The non-manufacturing business activity index increased slightly, rising from 60.7% to 60.8%. That reflects growth for the 95th consecutive month. The new orders index also increased, rising to 60.5%, which is 2.8 percentage points higher than the reading of 57.7% in May. Additionally, the prices index jumped over the 50% threshold, registering a 52.1% reading, which indicates that prices increased in June after decreasing in May.

The employment index did drop in June however, coming in at 55.8% after a reading of 57.8% in May.

“According to the NMI, 16 non-manufacturing industries reported growth. The non-manufacturing sector continued to reflect strength for the month of June,” said Anthony Nieves, chair of the ISM’s non-manufacturing business survey committee. “The majority of respondents’ comments are positive about business conditions and the overall economy.”

The 16 non-manufacturing industries reporting growth in June include rental and leasing, construction and mining.


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