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Economic Data (USA)

Tuesday, September 06, 2016

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%


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."

  •     "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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