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Economic Data (USA)

Friday, January 05, 2018

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

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

Predicted: 57.6%
Actual: 55.9%


Previous month: 57.4%


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).


From today' report:

"...Economic activity in the non-manufacturing sector grew in December for the 96th consecutive month, say the nation’s purchasing and supply executives in the latest Non-Manufacturing ISM® Report On Business®..."


Here's a sampling of comments made by survey participants:

  •     "Many suppliers are proposing price increases, but few are being implemented. Increases in volume and efficiencies seem to be outperforming commodity pricing."
     (Accommodation and Food Services)

  •     "December is slowing, as is seasonally expected after a strong fall. Business in general is strong [and] within the normal pattern of seasonal fluctuation."
     (Management of Companies and Support Services)

  •     "Some improvement is jobs from the private sector."
     (Professional, Scientific and Technical Services)

  •     "Lumber prices are increasing due to product [being] damaged in the recent wildfires. Duties on steel from Vietnam is expected to cause an increase in steel prices. Ongoing shortages in construction related [to] labor continue to be a problem."

  •     "Ending the year with profits and business levels on track. 2018 is projected to be as productive with an optimistic outlook."
     (Finance and Insurance)

  •     "IV solutions are still on national manufacturer back order. Hospital gauze back orders are also causing issues in the industry."
     (Health Care and Social Assistance)

  •     "We are seeing a resurgence in the business activity of our oil and gas customers, in a positive direction that is impacting our sales."
     (Other Services)

  •     "Steady end-of-year demand. Forecasting substantial increase in 2018 activity."
     (Public Administration)

  •     "Sales have slowed in food supply after last month’s buildup for the holidays."
     (Retail Trade)

ISM Non-Manufacturing Index (NMI) History
ISM Non-Manufacturing Index (NMI) History

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