Tempe, Arizona (PPD) — The Institute for Supply Management (ISM) Non-Manufacturing Index (NMI came in at 52.5% in March, beating the consensus forecast and only 4.8% lower than the reading in February (57.3%).
Forecasts ranged from a low of 34.8 to a high of 47.0. The consensus forecast was 43.0.
The Non-Manufacturing Business Activity Index fell 9.8% to 48%, down from a reading of 57.8%. That reflects contraction for the first time since July 2009, when the index registered 47.2%.
The New Orders Index came in at 52.9%, 10.2% down from the reading of 63.1% in February. The Employment Index fell 8.6% to 47% from the February reading of 55.6%.
The nine non-manufacturing industries reporting growth in March — listed in order — are: Health Care & Social Assistance; Real Estate, Rental & Leasing; Public Administration; Utilities; Finance & Insurance; Construction; Management of Companies & Support Services; Wholesale Trade; and Information. The seven industries reporting a decrease in March — listed in order — are: Arts, Entertainment & Recreation; Transportation & Warehousing; Professional, Scientific & Technical Services; Mining; Other Services; Retail Trade; and Educational Services.
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