Economic activity in the non-manufacturing sector grew in December for the 25th consecutive month, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business.
The report was issued today by Anthony Nieves, C.P.M., CFPM, chair of the Institute for Supply Management™ Non-Manufacturing Business Survey Committee. "The NMI registered 52.6 percent in December, 0.6 percentage point higher than the 52% registered in November, and indicating continued growth at a slightly faster rate in the non-manufacturing sector.
• The Non-Manufacturing Business Activity Index registered 56.2%, which is the same reading as reported in November, reflecting growth for the 29th consecutive month.
• The New Orders Index increased by 0.2 percentage point to 53.2%.
• The Employment Index increased 0.5 percentage point to 49.4%, indicating contraction in employment for the third time in the last four months.
• The Prices Index decreased 1.3 percentage points to 61.2%, indicating prices increased at a slower rate in December when compared to November
According to the NMI, 11 non-manufacturing industries reported growth in December.
The 11 non-manufacturing industries reporting growth in December based on the NMI composite index — listed in order — are: Retail Trade; Professional, Scientific & Technical Services; Finance & Insurance; Information; Construction; Other Services; Wholesale Trade; Public Administration; Educational Services; Mining; and Transportation & Warehousing.
The seven industries reporting contraction in December — listed in order — are: Agriculture, Forestry, Fishing & Hunting; Management of Companies & Support Services; Health Care & Social Assistance; Real Estate, Rental & Leasing;
Accommodation & Food Services; Utilities; and Arts, Entertainment & Recreation.