The Institute for Supply Management (ISM) Non-Manufacturing Index (NMI) for the U.S. service sector came in at 56.9 for May, beating the consensus forecast. That’s a gain of 1.4 percentage points from April, and indicates continued service sector growth at a slightly faster rate.
| Indicator | Prior | Consensus Forecast | Forecast Range | Actual |
| NMI Composite Index – Level | 55.5 | 55.8 | 52.5 to 56.5 | 56.9 |
The Non-Manufacturing Business Activity Index rose 1.7% to 61.2%, suggesting growth for the 118th consecutive month. The New Orders Index posted a slightly higher (0.5%) reading at 58.6%. The Employment Index rose 4.4% to 58.1% , while the Prices Index fell 0.3% from 55.7% to 55.4%, indicating that prices increased in May for the 24th consecutive month.
“According to the NMI, 16 non-manufacturing industries reported growth,” Anthony Nieves, Chair of the ISM Non-Manufacturing Business Survey Committee. “The non-manufacturing sector continues to experience a slight uptick in business activity, but it is still leveling off overall.”
“Respondents are mostly optimistic about overall business conditions, but concerns remain about tariffs and employment resources.”
The most damning journalistic sin committed by the media during the era of Russia collusion…
The first ecological study finds mask mandates were not effective at slowing the spread of…
On "What Are the Odds?" Monday, Robert Barnes and Rich Baris note how big tech…
On "What Are the Odds?" Monday, Robert Barnes and Rich Baris discuss why America First…
Personal income fell $1,516.6 billion (7.1%) in February, roughly the consensus forecast, while consumer spending…
Research finds those previously infected by or vaccinated against SARS-CoV-2 are not at risk of…
This website uses cookies.