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

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

Predicted: 56.8%
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 57.2%.

Here's a sampling of comments from survey participants:

•     "New business slowed a little bit, but we are still growing. The key headwinds are holiday season and capex [capital expenditures] tightening due to end of year budgets."
   (Construction)

•     "Steady with optimism."
   (Finance and Insurance)

•     "Business is the same and at the same volumes as last month."
   (Health Care and Social Assistance)

•     "Very busy end to the 4th Qtr due to customers' year-end spending boost."
   (Mining)

•     "Activity seems to be increasing as more potential client inquiries have been coming in."
   (Professional, Scientific and Technical Services)

•     "Labor, especially construction labor and construction subcontractors, continue to be in short supply."
   (Public Administration)

•     "Sales increasing due to [the] holidays."
   (Retail Trade)

•     "Distribution of finished goods ahead of last year and forecasts in all channels. E-commerce [has the] strongest growth."
   (Transportation and Warehousing)
  

Click here to view the complete ISM report

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