Non-Manufacturing Sector Experiences Strong Growth in April



According to the Institute for Supply Management’s non-manufacturing report on business, economic activity in the non-manufacturing sector grew in April for the 88th consecutive month.

The NMI was recorded at 57.5%, which was a 2.3% increase over the reading from March, meaning not only did the non-manufacturing sector grow but at a faster rate than the previous month.

The non-manufacturing business activity index also increased, rising 3.5% to 62.4%, which also indicates growth for the 93rd straight month and at a faster rate than March.

The new orders index rose as well, registering at 63.2%, 4.3% higher than the reading of 58.9% in March. The prices index went up 4.1% to 57.6%, as prices increased for the 13th-straight month and at a faster rate in April.

According to the Anthony Nieves, chair of the ISM Non-Manufacturing Business Survey Committee, 16 non-manufacturing industries reported growth in April.

“In April the non-manufacturing sector reflected strong growth after a slowing in the rate from the previous month,” Nieves said. “Respondents’ comments are mostly positive about business conditions and the overall economy.”

The 16 non-manufacturing industries reporting growth in April included wholesale trade, mining, construction, as well as rental and leasing.


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