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ISM: Services Sector Continues Growth Trend in February

March 06, 2013, 07:29 AM
Filed Under: Economy

Economic activity in the non-manufacturing sector grew in February for the 38th 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 56 percent in February, 0.8 percentage point higher than the 55.2 percent registered in January. This indicates continued growth at a slightly faster rate in the non-manufacturing sector. This month's reading also reflects the highest NMI™ since February 2012, when the index registered 56.1 percent. The Non-Manufacturing Business Activity Index registered 56.9 percent, which is 0.5 percentage point higher than the 56.4 percent reported in January, reflecting growth for the 43rd consecutive month. The New Orders Index increased by 3.8 percentage points to 58.2 percent, and the Employment Index decreased 0.3 percentage point to 57.2 percent, indicating growth in employment for the seventh consecutive month. The Prices Index increased 3.7 percentage points to 61.7 percent, indicating prices increased at a faster rate in February when compared to January. According to the NMI™, 13 non-manufacturing industries reported growth in February. The majority of respondents' comments reflect a growing optimism about the trend of the economy and overall business conditions."
Industry Performance

The 13 non-manufacturing industries reporting growth in February — listed in order — are:

  • Management of Companies & Support Services
  • Real Estate, Rental & Leasing
  • Public Administration
  • Health Care & Social Assistance
  • Transportation & Warehousing
  • Wholesale Trade
  • Educational Services
  • Construction
  • Finance & Insurance
  • Other Services
  • Retail Trade
  • Professional, Scientific & Technical Services
  • Utilities

The five industries reporting contraction in February are:

  • Mining
  • Arts, Entertainment & Recreation
  • Information
  • Accommodation & Food Services
  • Agriculture, Forestry, Fishing & Hunting

Read the full February 2013 Non-Manufacturing ISM Report On Business.

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