ISM Non-Manufacturing Index (NMI®) for February 2017

Earlier today, the Institute for Supply Management (ISM®) released their Non-Manufacturing Index (NMI®) for February 2017:

Predicted: 56.5%
Actual: 57.6%

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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).

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The previous month's non-manufacturing NMI reading was 56.5%.

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Here's a sampling of comments from survey participants:

•     "Our business remains strong."
   (Health Care and Social Assistance)

•     "Business has been consistent for the start of 2017."
   (Management of Companies and Support Services)

•     "U.S. construction labor is tight."
   (Construction)

•     "Lending has picked up quite nicely."
   (Finance and Insurance)

•     "Strong 1st quarter for our industry shows promise for 2017."
   (Mining)

•     "Heavy rains and continuing storms have affected the quality and availability of greens and lettuces in California. Prices have also increased. Product yield has also declined, specifically for heartier greens."
   (Accommodation and Food Services)

•     "Oil prices have stabilized, but not at a level that drives significant increases in capital spending at oil and gas companies. Business activity has increased just slightly."
   (Professional, Scientific and Technical Services)

•     "Slow after the holiday. Positive year ahead."
   (Retail Trade)

•     "The dramatic improvement in business, which began in December continued into January. Early February is showing similar results."
   (Wholesale Trade)

Click here to view the complete ISM report

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