Non-Manufacturing Business Activity Hits Highest Mark Since 2011

According to the Institute for Supply Management’s latest report, economic activity in the non-manufacturing sector grew in February for the 86th consecutive month.

The ISM reported that the February NMI came in at 57.6%, which is 1.1 percentage points higher than the January reading of 56.5%. It is the highest reading since October of 2015.

In addition, the non-manufacturing business activity rose to 63.6% from a January reading of 60.3%, marking the highest reading since February 2011. This represents growth for the 91st consecutive month.

The new orders index also rose substantially, climbing to 61.2%, its highest reading since August 2015.

The employment index increased marginally in comparison, rising 0.5% in February to 55.2% from the January reading of 54.7%.

Meanwhile, the prices index fell 1.3% to 57.7%. That still indicates rising prices for the 11th consecutive month, just at a slower rate than in January.

During the month, 16 of 18 non-manufacturing industries reported growth, including mining, finance and insurance as well as construction.

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Terry Mulreany
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