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Economic Data (USA)

Monday, February 05, 2018

ISM Non-Manufacturing Index (NMI®) for January 2018

Earlier today, the Institute for Supply Management (ISM®) released their Non-Manufacturing Index (NMI®) for January 2018:

Predicted: 56.2%
Actual: 59.9%


Previous month (revised): 56.0%


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 January 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:

  •     "Executive management [is] excited about tax breaks for CapEx purchases in [the] new tax bill."

  •     "Month-over-month steady growth, on average, [is] 3 percent on project volume and 1 percent on total revenue."

  •     "Signs of strong growth [in] financial performance expectations given the recent tax changes."
    (Finance and Insurance)

  •     "Positive outlook for 2018. We see huge pricing pressure."
    (Health Care and Social Assistance)

  •     "Business is starting off solid."
    (Accommodation and Food Services)

  •     "First quarter begins slow like 2017, but expect things to pick up later in Q1. Outlook continues to look bright for 2018."
    (Professional, Scientific and Technical Services)

  •     "Business activity is low due to the continued partial funding [of] bills passed (continuing resolutions)."
    (Public Administration)

  •     "Overall, sales velocity looks strong. Some regional differences due to weather conditions, but overall, a strong month."
    (Wholesale Trade)

ISM Non-Manufacturing Index (NMI) History - January 2018
ISM Non-Manufacturing Index (NMI) History

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