The Institute for Supply Management (ISM) Non-Manufacturing Index (NMI) indicates the U.S. service sector grew more moderately in July. However, comments from the panel suggest an expected pickup in the second half of 2019.
“The non-manufacturing sector’s rate of growth continued to cool off,” Anthony Nieves, Chair of the ISM Non-Manufacturing Business Survey Committee, said. “Respondents indicated ongoing concerns related to tariffs and employment resources.”
The New Orders Index came in at 54.1%, which is down 1.7% from June. The Employment Index still rose 1.2% in July to 56.2%, but comments from the panel confirm PPD’s repeated reporting on the skills gap.
The 13 non-manufacturing industries reporting growth in July — listed in order — are: Accommodation & Food Services; Utilities; Professional, Scientific & Technical Services; Real Estate, Rental & Leasing; Transportation & Warehousing; Construction; Information; Other Services; Finance & Insurance; Public Administration; Management of Companies & Support Services; Mining; and Health Care & Social Assistance.
The five industries reporting a decrease are: Arts, Entertainment & Recreation; Agriculture, Forestry, Fishing & Hunting; Retail Trade; Wholesale Trade; and Educational Services.
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