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Economic Data (USA)

Wednesday, April 05, 2017

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

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

Predicted: 57.0%
Actual: 55.2%


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 NMI reading was 57.6%.


Here's a sampling of comments from survey participants:

  •     "Growth on [a] number of projects has slowed a little, but revenue projections are steady."

  •     "The details of the revisions to the Obamacare program are of great interest to us. There is a large amount of future uncertainty with what will happen. Meanwhile, the business continues."
     (Finance and Insurance)

  •     "Health care changes can affect our business. Uncertainty is making us hold on many projects."
     (Health Care and Social Assistance)
  •     "Market conditions are still favorable with animal proteins due to [the] strong dollar, low exports and [an] abundant supply. Unknown [are] the POTUS’ policies going forward on trade and immigration. Worker shortages have become a real problem in food production and produce growing areas."
     (Accommodation and Food Services)

  •     "Business is picking up. Service labor is tight. New legislation has had significant impact."
     (Public Administration)

  •     "Overall, business conditions are favorable, and the outlook is positive."
     (Retail Trade)

  •     "Continued optimism regarding the domestic business environment."
     (Management of Companies and Support Services)

  •     "First quarter has been brisk, and March has been as busy as I [have] ever seen, with many new endeavors."

Click here to view the complete ISM report

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