ISM Non-Manufacturing Index (NMI®) for August 2016

Earlier today, the Institute for Supply Management (ISM®) released their Non-Manufacturing Index (NMI®) for August 2016:

Predicted: 55.0%
Actual: 51.4%

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The NMI is a reliable barometer of the U.S. services sector; above 50% implies expansion, while a reading below 50% implies that the services sector contracted.

Service categories include: Agriculture, Forestry, Fishing + Hunting; Mining; Utilities; Construction; Wholesale Trade; Retail Trade; Transportation + Warehousing; Information; Finance + Insurance; Real Estate, Rental + Leasing; Professional, Scientific + Technical Services; Management of Companies + Support Services; Educational Services; Health Care + Social Assistance; Arts, Entertainment + Recreation; Accommodation + Food Services; Public Administration; and Other Services (services such as Equipment + Machinery Repairing; Promoting or Administering Religious Activities; Grantmaking; Advocacy; and Providing Dry-Cleaning + Laundry Services, Personal Care Services, Death Care Services, Pet Care Services, Photofinishing Services, Temporary Parking Services, and Dating Services).

The previous NMI reading was 55.5%.

Here's a sampling of comments from survey participants:

•     "Relatively stable August, with no sharp increase or decrease in sales or pricing. Labor availability and cost remains a very high focal point."
  (Accommodation + Food Services)

•     "Overall, the oil and gas industry remain in [a] ‘wait and watch’ mode. The price of oil has impacted investment considerably."
  (Construction)

•     "No significant changes to report. Still on track for expansion efforts to begin fourth quarter 2016."
  (Finance + Insurance)
  
  

•     "Still recovering from the current downturn in the renewable energy market which is expected to pick up in the fourth quarter."
  (Professional, Scientific + Technical Services)
   

•     "Stable with some increase in construction activity."
  (Public Administration)
   

•     "The business environment has softened a bit over the last month. There are now opportunities to fill in the marketplace."
  (Retail Trade)
   

•     "Midyear [is a] slow time for us, summer build is over, fall is historically light, holiday peak build September and October for peak time November and December."
  (Transportation + Warehousing)
   

•     "Good, but slowing from previous months."
  (Wholesale Trade)
  

Click here to view the complete ISM report.

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