ISM: Services Sector Slows, Manufacturing Hits 2013 High



The Institute for Supply Management said its Non-Manufacturing Index (NMI) registered 53.9% in November, 1.5 percentage points lower than October’s reading of 55.4%, indicating continued growth at a slower rate.

The ISM also said economic activity in the manufacturing sector has increased progressively each month since June, with November’s reading reflecting the highest index reading in 2013. The Purchasing Managers Index (PMI) registered 57.3%, an increase of 0.9 percentage point from October’s reading of 56.4%.

A reading above 50% indicates the non-manufacturing sector economy is generally expanding; below 50% indicates the non-manufacturing sector is generally contracting.

The 11 non-manufacturing industries reporting growth in November — listed in order — are: Transportation & Warehousing; Retail Trade; Management of Companies & Support Services; Other Services; Information; Agriculture, Forestry, Fishing & Hunting; Wholesale Trade; Finance & Insurance; Public Administration; Educational Services; and Professional, Scientific & Technical Services.

The six industries reporting contraction in November — listed in order — are: Mining; Accommodation & Food Services; Utilities; Health Care & Social Assistance; Arts, Entertainment & Recreation; and Construction.

The 15 manufacturing industries reporting growth in November are: Plastics & Rubber Products; Textile Mills; Furniture & Related Products; Primary Metals; Food, Beverage & Tobacco Products; Paper Products; Printing & Related Support Activities; Petroleum & Coal Products; Miscellaneous Manufacturing; Electrical Equipment, Appliances & Components; Transportation Equipment; Chemical Products; Computer & Electronic Products; Nonmetallic Mineral Products; and Fabricated Metal Products.

The three industries reporting contraction in November are: Apparel, Leather & Allied Products; Wood Products; and Machinery.

To read the full services sector report click here.

To read the full manufacturing report click here.


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