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Economy

Economic Data (USA)

Wednesday, October 05, 2016

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

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

Predicted: 52.9%
Actual: 57.1%

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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).

Last month's non-manufacturing NMI reading was 51.4%.

Here's a sampling of comments from survey participants:

  •     "Somewhat flat month of overall pricing conditions; however, labor cost and availability remains a concern."
     (Accommodation and Food Services)
  •     "Business is showing a moderate unexpected uptick over last month. YTD business volume is moderately under forecast."
     (Management of Companies and Support Services)
  •     "Macroeconomic issues like Brexit and reduced travel from South America impact summer travel."
     (Arts, Entertainment and Recreation)

  •     "Sales ahead of plan. Net income below plan. Costs running higher than plan. In addition, continued low interest rates impact investment results."
     (Finance and Insurance)

  •     "Affordable Care Act, changes in Medicare and Medicaid causing problems across much of the healthcare and insurance industries. Acquisition helping our company, but also lost a large client that will impact our financials for the next year."
     (Health Care and Social Assistance)
  •     "Solid steady growth."
     (Professional, Scientific and Technical Services)
  •     "Business is [at] an annual high."
     (Public Administration)
  •     "Sales continue [at an] increased pace from last month."
     (Retail Trade)
     
  •     "We are watching the effects of the Hanjin Shipping issues with regard to cost and availability of Asian imports."
     (Wholesale Trade)

Click here to view the complete ISM report

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