According to the Institute for Supply Management, economic activity in the non-manufacturing sector grew in January for the 85th consecutive month.

The report was issued today by Anthony Nieves, CPSM, C.P.M., CFPM, chair of the Institute for Supply Management (ISM) Non-Manufacturing Business Survey Committee: ”

Although activity grew, the NMI fell slightly in January, registering a 56.5% reading, down 0.1% from December. That means the non-manufacturing sector grew during the month but at a slightly slower rate.

The non-manufacturing business activity index also decreased, falling 0.6% to 60.3%, which still reflects growth for the 90th consecutive month just at a slightly slower rate.

The new orders index took a 2.1% dip to 58.6%, but the employment index increased 2% to 54.7% from the seasonally adjusted December reading of 52.7%. The prices index also increased, jumping 2.9% from the seasonally adjusted December reading 59%. Prices have now increased for 10-straight months.

According to the NMI, 12 non-manufacturing industries reported growth in January.

“The non-manufacturing sector begins 2017 with a cooling-off in the rate of growth month-over-month. The sector still reflects strong growth,” said Anthony Nieves, chair of the ISM’s non-manufacturing business survey committee. “Respondents’ comments are mixed indicating both optimism and a degree of uncertainty in the business outlook as a result of the change in government administration.”

The 12 non-manufacturing industries reporting growth in January included mining, health care and social assistance, finance and insurance as well as construction. Real estate and leasing were some of the industries to report contraction.