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

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

Predicted: 55.5%
Actual: 57.2%

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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 month's non-manufacturing NMI reading was 54.8%.

Here's a sampling of comments from survey participants:

•     "We had almost [a] 9 percent jump month-over-month on active, secured projects in our variable side of business. We also acquired new customers in [the] past two months."
  (Construction) 

•     "Looking to close out Q4 with no significant changes positive or negative. Profits overall have been above projections."
  (Finance and Insurance) 

•     "Our health plan business still continues to struggle with rising costs under Obamacare, which is causing the whole company to experience cost pressures."
  (Health Care and Social Assistance)
  

•     "Current business conditions continue to be depressed more than desired; although, there appears to be slight improvement. As our business is primarily driven by the oil & gas market, we follow the price of oil fairly close."
  (Mining) 

•     "Outlook for Q1 2017 is looking favorable with Q4 2016 ending as projected, perhaps slightly lower."
  (Professional, Scientific and Technical Services) 

•     "Increased sales for [the] holidays."
  (Retail Trade) 

•     "After the beginning of the fiscal year's flurry of orders, things have tapered off."
  (Public Administration)
  

Click here to view the complete ISM report