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Economy

Economic Data (USA)

Wednesday, August 04, 2021

ISM Non-Manufacturing Index (NMI®) for July 2021

Earlier today, the Institute for Supply Management (ISM®) released their Non-Manufacturing Index (NMI®) for July 2021:

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Predicted: 65.0%
  • Actual: 64.1%  (+4.0 points month-on-month change)

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Previous month: 60.1%

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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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From today' report:

"...Economic activity in the services sector grew in July for the 14th month in a row, say the nation’s purchasing and supply executives in the latest Services ISM® Report On Business®..."

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

  • "Peak demand while still facing challenges filling open positions."
     [Accommodation & Food Services]

 

  • "The slow movement of container traffic has definitely impacted our business in the first half of the year. We expect the situation will take another year to correct itself."
     [Agriculture, Forestry, Fishing & Hunting]

 

  • "Costs have risen dramatically in the last 45 days. Lodging, fuel, travel and supplies are all rising sharply. Costs for available labor are also rising, as demand increases in a diminished labor pool."
     [Construction]

 

  • "Surgical volumes continue to increase, reflecting pent-up demand for services. However, the COVID-19 delta variant is impeding our ability to manage increased surgical volumes due to increased COVID-19 case admissions. Consistency of supply in a couple of categories (coagulation tubes and nitrile gloves) remains challenging, though moderately manageable."
     [Health Care & Social Assistance]


  • "Fuel prices are coming back down a bit. Labor shortage continues for drivers and general labor work. We have increased pay for many positions, but the shortage continues."
     [Management of Companies & Support Services]

 

  • "Supply chain disruptions continue to impact sales."
     [Professional, Scientific & Technical Services]

 

  • "Appliances, laptops and certain chemicals are still in short supply."
     [Public Administration]

 

  • "Business continues to gain speed as the economy recovers and assuming there won’t be additional government-mandated lockdowns."
     [Real Estate, Rental & Leasing]

 

  • "Continued shortages in computer equipment (laptops and PCs) are challenging for fulfillment needs. Corporate travel has resumed, but we’re seeing many flight cancellations and car-rental shortages. Heating, ventilation and air conditioning (HVAC) repairs also impacted by longer than normal lead times for replacement units."
     [Retail Trade]

 

  • "Ocean freight costs have created a negative impact to our business. The congestions at (the ports of) Long Beach/Los Angeles and Seattle have increased lead time by 15 days. Additional delays are occurring at the Chicago rail yard, (causing) two to three weeks of additional lead time."
     [Wholesale Trade]

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ISM Non-Manufacturing (Services) Index (NMI®) 12 Month History - July 2021 Update












ISM Non-Manufacturing (Services) Index (NMI®)
12 Month History - July 2021 Update







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