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

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

==========

Predicted: 62.0%

• Actual: 64.0%  (All-Time Record High)

==========

Previous month: 62.7%

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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; Grant-making; 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 services sector grew in May for the 12th month in a row, say the nation’s purchasing and supply executives in the latest Services ISM® Report On Business®..."

============

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

• "Stimulus money, increased vaccinations, increased dining capacity and pent-up demand are driving a fast recovery for dine-in restaurants -- and all consumer segments, it seems -- resulting in labor shortages and supply chain gaps."
   [Accommodation + Food Services]
  

• "Container delays are impacting our supply chain in a significant way. Delays at the Port of Montreal and West Coast ports have impacted our ability to provide products in growing season. Truck availability has generally been tighter than normal. We’ve seen a real impact in the southeastern market."
   [Agriculture, Forestry, Fishing + Hunting]
  
  

• "Business continues to improve, and we have worked through many of the supply chain disruptions at this time. We have begun to return to work at our corporate office on a limited basis."
   [Arts, Entertainment + Recreation]
  

 

• "We are still busy and adding employees. One of the biggest concerns now is shortages of crucial material and equipment. Metal coils for production are especially scarce. Equipment and material suppliers have been raising prices since the first of the year. We hear of a new increase almost daily."
   [Construction]
  

 

• "We anticipated the reopening reasonably well but were caught off guard with respect to some materials. Steel and copper went higher than anticipated, and shortages are having an impact."
   [Finance + Insurance]
  

 

• "As the vaccination rate continues to climb and the coronavirus (COVID-19) infection rate continues to plummet, business conditions are steadily improving: Strong revenue performance is returning, and outlooks are improving. Some supply categories remain constrained (nitrile gloves, sterile wrap and the like), yet are somewhat manageable, limiting the impact to daily operations."
   [Health Care + Social Assistance]
  

 

• "(We are) seeing cost increases and long lead times with steel and steel containers. Worker shortages, temp labor and the like."
   [Management of Companies + Support Services]
  

 

• "Transportation, labor, steel and general commodities are all increasing (in price) based upon general inflation and the rising price of oil."
   [Mining]
  

 

• "Small businesses in the area are reporting stimulus checks and extension of unemployment are hampering their ability to hire workers. Seasonal labor and H-2B (visa) workers are in very short supply, causing an uptick in cost per hour. Some employers are reporting they are offering cash incentives of (US)$50 if you show up for an interview."
   [Professional, Scientific + Technical Services]
  

 

• "Business is very strong, and customer orders continue to increase at a rapid pace. Material shortages, increased prices and qualified personnel shortages are becoming a much larger concern."
   [Real Estate, Rental + Leasing]
  

 

• "Very concerned about the rapid and continuing price escalations for any products with copper, steel, and polyvinyl chloride (PVC). Production issues and lead-time extensions are not improving."
   [Retail Trade]
  

 

• "Business is doing good, exceeding sales target, but we have challenging issues with (1) increases in raw-materials costs and freight rates, (2) huge freight delays from overseas and (3) continued U.S. port delays. The (COVID-19 surges) in India and Taiwan are also causing delays on product availability/shipments."
   [Wholesale Trade]
  
   
  

  ============

• Click here to view the complete ISM report

==========

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

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ISM Non-Manufacturing Index (NMI®) for June 2020

Earlier today, the Institute for Supply Management (ISM®) released their Non-Manufacturing Index (NMI®) for June 2020:

==========

Predicted: 50.0%

• Actual: 57.1%  (+11.7 points month-on-month change)

==========

Previous month: 45.4%

==========

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 [services] sector grew in June after two consecutive months of contraction, 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:

•     “Businesses are starting to reopen and the economy seems to be on the road to recovery, but let’s not get too complacent, [as] COVID-19 is still a pandemic, [and] a vaccine has not been developed. Economics is the reason for the push for businesses to reopen. Utmost care and awareness still needs to be cautiously and religiously followed.”
   (Accommodation + Food Services)

•     “Surprising recovery to sales volume over the past four weeks.”
   (Agriculture, Forestry, Fishing + Hunting)

•     “Sales have picked up tremendously. Sporadic supply issues. Biggest concern for us is lumber shortages.”
   (Construction)

•     “We are a public higher-education institution. We are expecting budget cuts for fiscal year 2021. Our biggest concern is COVID-19. The plan for a vast majority of higher education institutions is to have students on campus and blend of face-to-face and online classes. However, if students do not effectively social distance, then we could see a dramatic increase in COVID-19 and campuses forced to move to online classes. This will be a major financial blow to revenue for all universities (athletic events, vending, parking, housing, and the like).”
   (Educational Services)

•     “We continue to all work from home globally. Strict restriction on travel and external events. Senior management focusing on a plan for returning to the office.”
   (Finance + Insurance)

•     “COVID-19 has affected us, of course — obtaining PPE supplies has been our focus. Overall census has been very low. Operating rooms, rehab clinics and physician practices were closed or working fewer hours but have since opened back up.”
   (Health Care + Social Assistance)

•     “Advertisers are starting to place more advertisements and the media business is turning around. Generally, we are at the end of the employee furloughs and layoffs. Our work efforts have been focused on navigating COVID-19. We are now shifting to value-add projects. We are cautiously optimistic, although as we get closer to the presidential election, we are on guard of unprecedented civil and social unrest.”
   (Information)

•     “Activity level is holding steady, with the potential of a rebound in the near future.”
   (Mining)

•     “We have seen an overall reduction in our business as a result of COVID-19, with the greatest reduction in the aviation and oil and gas industries. In contrast, the pharmaceutical industry has seen an increase in business during the same time frame.”
   (Other Services)

•     “COVID-19 and the riots have disrupted the normal flow of business. There is no new normal yet.”
   (Real Estate, Rental + Leasing)

 ============

• Click here to view the complete ISM report

==========

ISM Non-Manufacturing (Services) Index (NMI®)
12 Month History - June 2020 Update

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ISM Non-Manufacturing Index (NMI®) for April 2020

Earlier today, the Institute for Supply Management (ISM®) released their Non-Manufacturing Index (NMI®) for April 2020:

Predicted: 37.9%

• Actual: 41.8%  (-10.7 points month-on-month change)

==========

Previous month: 52.5%

==========

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 contracted in April for the first time since December 2009, ending a 122-month period of growth, 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:

•     “General uncertainty over ramp-up timeline post COVID-19.”
   (Accommodation + Food Services)

•     “The COVID-19 situation has created significant challenges for the agricultural sectors. Milk prices have declined 29 percent in a few weeks. Milk is being dumped on farms because of the loss of markets. Cattle prices are down 28 percent, pork prices down 24 percent, [and] all agriculture sectors are facing significant price declines. Our agriculture economy is challenged, with poultry, pork, and beef processing plants closed due to COVID-19 cases or impaired due to employees afraid to work side-by-side with other employees. Farmers cannot sell fat cattle locally due to processing plant shutdowns.”
   (Agriculture, Forestry, Fishing + Hunting)

•     “COVID-19 pandemic has forced our business to close as of March 17, 2020. We do not have a re-opening date yet; our purchasing activity has been greatly reduced due to the current business environment.”
   (Arts, Entertainment + Recreation)

•     “COVID-19 is altering the operation, supply chain and sales process of home-building. Stay-at-home orders have hampered business in residential construction. As ours has been deemed an essential industry, we continue to navigate changing guidelines and restrictions on a daily basis.”
   (Construction)

•     “The university abruptly transitioned from students on campus to remote teaching for the spring quarter; however, the number of students registered for the quarter has remained consistent with previous years. Overall, activity dropped 17 percent compared to February and 31 percent compared to March 2019.”
   (Educational Services)

•     “Due to increased loans from [the federal] stimulus package, [we are] seeing an increase in new business.”
   (Finance + Insurance)

•     “COVID-19 has halted much of our standard work to procure items for our organization. It’s halted much of the world, except for health care. Distributors were woefully unprepared for the spread of this pandemic, and many health-care systems / providers depend on them for inventory planning and availability. Combine that with the global [surgical] gown recall just before the pandemic struck -- and isolation masks are created from the same material as isolation gowns -- and you had a perfect storm for chaos across the supply chain. It will be very hard for major medical distributors who did not manage their core customers well to recover from both the gown recall and the pandemic. It also provided some insight into whether or not the distributor partners were actually skilled at inventory planning and movement. I believe that the healthcare supply chain landscape will change dramatically after this.”
   (Health Care + Social Assistance)

•     “The oil exploration sector is very weak, with the record low price of oil and the country’s shutdown due to the COVID-19 threat. We are hopeful for a bump in activity once the country starts to reopen.”
   (Management of Companies + Support Services)

•     “New challenges working from home and getting inventory to the retail locations.”
   (Retail Trade)

•     “As an essential business, we have remained open during the month. A significant number of our customers are closed (i.e. schools) and other have substantially reduced their buying (i.e. hotels, office building). Sales of janitorial, sanitation, and paper products [have] increased across all business lines, but other categories are greatly reduced. Overall, reduction in sales of 20 percent to 30 percent.”
   (Wholesale Trade)

============

• Click here to view the complete ISM report

==========

ISM Non-Manufacturing (Services) Index (NMI®)
12 Month History - April 2020 Update

==========

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ISM Non-Manufacturing Index (NMI®) for February 2020

Earlier today, the Institute for Supply Management (ISM®) released their Non-Manufacturing Index (NMI®) for February 2020:

Predicted: 55.0%

• Actual: 57.3%  (+1.8 points month-on-month change)

==========

Previous month: 55.5%

==========

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 February for the 121st 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:

•    
      “[The] coronavirus has increased lead times for the critical items.”
   (Construction)

•     “[First-quarter numbers] are slightly behind projections, but still positive.”
   (Finance & Insurance)

•     “Because of the coronavirus, we are looking at major back-orders in masks, gloves, and PPE (personal protection equipment). A lot of the masks are manufactured in China, so not only are we facing a shortage because of the virus, there is a drastic shortage because the masks are manufactured where the virus originated.”
   (Health Care & Social Assistance)

•     “Business is rapidly improving.”
   (Management of Companies & Support Services)

•     “The business outlook remains positive, but foggy due to the Chinese coronavirus outbreak. The mining industry is well dependent on Chinese consumption. On the other side, it is difficult to [make] sourcing decisions, since it is not clear how long China will need to return to normal production capacity, and if it is worth it to pay more from other countries.”
   (Mining)

•     “The outlook appears positive, as our order book is nearing full capacity for the first half of 2020.”
   (Professional, Scientific & Technical Services)

•     “Construction activity appears to be getting off to a good start for 2020.”
   (Real Estate, Rental & Leasing)

•     “A post-holiday slow period for retail. Business is strong overall; however, volume and inventories are lower due to the season. Pricing is still in check, with specialty labor the primary price risk.”
   (Retail Trade)

•     “A shortage of workers at several levels is impacting the quality of employees we are looking to hire for capital projects we need to start.”
   (Transportation & Warehousing)

============

• Click here to view the complete ISM report

==========

ISM Non-Manufacturing Index (NMI®) - 12 Month History

February 2020 Update

==========

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ISM Non-Manufacturing Index (NMI®) for January 2020

Earlier today, the Institute for Supply Management (ISM®) released their Non-Manufacturing Index (NMI®) for January 2020:

Predicted: 55.2%

• Actual: 55.5% (+0.6 point month-on-month change)

==========

Previous month: 54.9%

==========

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 120th 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:

•     “Outlook remains favorable for growth in 2020. Pricing on goods and services [are] stable, with little to no pricing escalations expected for the remainder of the first quarter, except for seasonal- and trade/tariff-related impacts on food products.”
   (Accommodation & Food Services)

•     “Q1 sales are improving, which makes us more optimistic.”
   (Construction)

•     “Cautious start to 2020. Looking forward with optimism and encouragement. Conditions are favorable.”
   (Finance & Insurance)

•     “Closely monitoring China’s coronavirus and its potential impact on medical supplies like surgical masks and protective goggles.”
   (Health Care & Social Assistance)

•     “The labor market continues to be a challenge, impacting capacity and pushing up costs. Despite this, overall business volume remains positive, with growth in key sectors for our business.”
   (Management of Companies & Support Services)

•     “The oil and gas industry is off to a slow start in 2020, as oil prices dropped slightly to start the year. Companies continue to be highly disciplined about hiring direct employees or contractors and making capital investments that drive hiring. Several notable oil and gas companies announced layoffs in the first week of January 2020.”
   (Professional, Scientific & Technical Services)

•     “Customer inquiries are strong to start the new year.”
   (Real Estate, Rental & Leasing)

•     “Activity is fair overall, but with regional ups and downs. The West in general has been favorable due to snowfall increasing sales activity, while the East has been down due to warmer weather in key winter tire markets. Optimism for the month, however, is good.”
   (Wholesale Trade)

 ==========

• Click here to view the complete ISM report

==========

ISM Non-Manufacturing Index (NMI®) - 12 Month History

January 2020 Update

==========

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ISM Non-Manufacturing Index (NMI®) for November 2019

Earlier today, the Institute for Supply Management (ISM®) released their Non-Manufacturing Index (NMI®) for November 2019:

Predicted: 54.5%

• Actual: 53.9% (-0.8 point month-on-month change)

==========

Previous month: 54.7%

==========

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 November for the 118th 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:

•     “Generally sluggish demand in the past month; back to summertime levels.”
   (Agriculture, Forestry, Fishing + Hunting)

•     “Activity is still up in all areas, but primarily in commercial construction.”
   (Construction)

•     “No significant changes in business conditions. Closing out current projects and initiatives. Preparing for year-end and the beginning of 2020.”
   (Finance + Insurance)

•     “Lower reimbursement rates will continue to affect funding levels.”
   (Health Care + Social Assistance)

•     “Tariffs are impacting prices for a broad array of products used in the delivery of services and completion of projects for our clients. Upward pressure is impacting suppliers and their pricing to customers. We are seeing no relief from our customers, so we’re being negatively impacted by tariff-driven price increases. Numerous suppliers report looking for alternative manufacturing/supply locations outside of China, but with limited or no success so far.”
   (Management of Companies + Support Services)

•     “Tariffs on steel and aluminum are still having a negative impact on costs. Oil and gas business is increasing, which is favorably impacting our orders.”
   (Other Services)

•     “We’re optimistic [because the] economy appears to be on autopilot, despite all the political distractions. Stock market seems invincible, [and the] trade war with China appears to be in a stalemate. Job growth appears to be reaching an equilibrium point. Final economic demand appears strong, with positive spend forecast for the holidays.”
   (Professional, Scientific + Technical Services)

•     “Business activity is lower after the end of the 2019 fiscal year. The federal government is under a continuing resolution appropriations bill. This means we have not received a full annual budget, and all spending is restricted to past operational budgets for only necessary items.”
   (Public Administration)

•     “Fourth-quarter seasonal retail volume increase is affecting labor hours, temporary labor demand and availability of short-term rental trailers to compensate for overflow.”
   (Transportation + Warehousing)

 ==========

• Click here to view the complete ISM report

==========

ISM Non-Manufacturing Index (NMI®) - 12 Month History

November 2019 Update

==========

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ISM Non-Manufacturing Index (NMI®) for September 2019

Earlier today, the Institute for Supply Management (ISM®) released their Non-Manufacturing Index (NMI®) for September 2019:

Predicted: 55.5%
Actual: 52.6% (-3.8 points month-on-month change)

==========

Previous month: 56.4%

==========

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 September for the 116th 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:

•    'Tariffs are adding uncertainty to short-term pricing on certain commodities, but suppliers are finding alternate solutions. The bigger impacts appear to be on demand side, which is driving short-term favorability in certain domestic markets.'
   (Accommodation + Food Services)

•     'Demand has been variable: up one month, down the next. I think customers are watching our input costs and buying ahead on the dips, to the extent that contracts allow.'
   (Agriculture, Forestry, Fishing + Hunting)

•     'We are very busy right now [and] expect to be so for the next 12 months. We are still very shorthanded with qualified labor.'
   (Construction)

•     'Gearing up for the fourth quarter of 2019. On track to end the year generally as anticipated, considering interest-rate changes, trade and tariff issues and other economic indicators and trends.'
   (Finance + Insurance)

•     'We continue with low patient census, which affects our orders and revenue.'
   (Health Care + Social Assistance)

•     'As employee cost [wages] are increasing in this better economy, it is getting harder to fight price increases on goods and services.'
   (Information)

•     'Costs are going up, from labor to chemicals to metals.'
   (Management of Companies + Support Services)

•     'While Chinese tariffs are understandable, they are impacting our supply chain decisions. We are actively pursuing alternate sources for our China-based production. At this point, we have not passed on tariff costs to our customers, but we are evaluating all options.'
   (Other Services)

•     'Business continues to pick up as we quickly approach Q4. Week by week, we inch closer to a much-anticipated holiday retail season, which requires not only last-minute buys, but a push to fill open positions.'
   (Retail Trade)

 ==========

• Click here to view the complete ISM report

==========

ISM Non-Manufacturing Index (NMI®) - 12 Month History
September 2019 Update

==========

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ISM Non-Manufacturing Index (NMI®) for August 2019

Earlier today, the Institute for Supply Management (ISM®) released their Non-Manufacturing Index (NMI®) for August 2019:

Predicted: 55.5%
Actual: 56.4% (+2.7 points month-on-month change)

==========

Previous month: 53.7%

==========

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 August for the 115th 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:

•    “Tariffs are affecting the cost of goods on all items imported from China. We’ve experienced a 10-percent increase on Chinese ingredients which kicked in on August 1.”
   (Accommodation  + Food Services)

•     “Generally good. Volumes are near expectations; however, commodity volatility is creating some challenges.”
   (Agriculture, Forestry, Fishing  + Hunting)

•     “Lower mortgage rates have not had a great effect on new residential construction sales. Tariffs continue to apply upward cost pressures to current supply chains.”
   (Construction)

•     “Trading volumes slowed, despite an extra day in the month for financial market activity. The competitive landscape for financial services continues to be challenging, with new lower cost offerings from competitors and new startups. At the end of the month, the federal funds rate was lowered to 2.25 percent, which affects company revenues.”
   (Finance  + Insurance)

•     “The advertising specialties industry continues to remain robust, despite the escalation of tariffs on apparel and other related promotional products. Many suppliers bought deep into inventory to avoid price increases; however, pricing effects from the tariffs are trickling into the supply chain. Clients are still converting quotes into orders, and we are still on track for a record sales year.”
   (Management of Companies  + Support Services)

•     “Summer doldrums appear to be over, and the fourth quarter will be solid, with higher-than-expected revenues.”
   (Professional, Scientific  + Technical Services)

•     “Construction markets remain busy. Projects that were delayed are trying to get back on track.”
   (Real Estate, Rental  + Leasing)

•     “As Q2 wraps up for many retailers, we begin focusing on holiday readiness. In turn, head count and requests for additional products and services will gradually increase.”
   (Retail Trade)

•     “Our summer load factor was high, and as we transition to the holiday season, we are forecasting a high load as well.”
   (Transportation  + Warehousing

 ==========

• Click here to view the complete ISM report

==========

ISM Non-Manufacturing Index (NMI®) - 12 Month History
August 2019 Update

==========

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ISM Non-Manufacturing Index (NMI®) for July 2019

Earlier today, the Institute for Supply Management (ISM®) released their Non-Manufacturing Index (NMI®) for July 2019:

Predicted: 55.5%
Actual: 53.7% (-1.4 points month-on-month change)

==========

Previous month: 55.1%

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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 non-manufacturing sector grew in July for the 114th consecutive month, say the nation’s purchasing and supply executives in the latest Non-Manufacturing ISM® Report On Business®..."

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

•    “Business is still strong, considering the seasonality.”
   (Accommodation + Food Services)

•     “Business volumes were flat compared to the previous month.”
   (Health Care + Social Assistance)

•     “Tariffs continue to push costs higher, and customers are looking for more discounts due to mortgage-rate fluctuations.”
   (Construction)

•     “Some uncertainty hinges on tariffs, but there have been no changes in market conditions.”
   (Information)

•     “For our company, July is looking to be a record-setting month for sales. Customers have been converting quotes to sales quicker than in past months. The tariffs have increased prices for our industry, but our clients are not balking at the slight price increases that have been passed along. We feel that (the third quarter) will be strong.”
   (Management of Companies + Support Services)

•     “It appears that the mining capital-expense environment is improving, with a good prospectus for the coming months. Our dependence on Chinese and Asian supply chains remains strong. NAFTA countries do not have the same capacity and speed.”
   (Mining)

•     “Companies involved in the oil and gas industry remain cautious relative to hiring direct employees and contingent workers, as well as investing in new capital projects. Volatility in oil price and geopolitical concerns are driving this wait-and-see approach.”
   (Professional, Scientific + Technical Services)

•     “Demand seems strong. There are still pressures for skilled labor. It is difficult to find fully qualified candidates. Suppliers are having trouble with demand.”
   (Public Administration)

•     “As our corporate objectives drive us more and more into digitization, advanced analytics, and data management in general, we are finding it increasingly difficult to find, develop and retain professional with advanced skills in these disciplines.”
   (Retail Trade)

•     “Business is somewhat slow for the first half of 2019, but it is expected to pick up for the second half.”
   (Wholesale Trade)

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• Click here to view the complete ISM report

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ISM Non-Manufacturing Index (NMI®) - 12 Month History
July 2019 Update

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ISM Non-Manufacturing Index (NMI®) for January 2019

Earlier today, the Institute for Supply Management (ISM®) released their Non-Manufacturing Index (NMI®) for January 2019:

Predicted: 57.1%
Actual: 56.7% (-1.3 points month-on-month change)

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Previous month: 58.0%

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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).

==========

From today' report:

"...Economic activity in the non-manufacturing sector grew in January for the 108^TH consecutive month, say the nation’s purchasing and supply executives in the latest Non-Manufacturing ISM® Report On Business®..."

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

• “Business has slowed well below expectations as our customers deal with the effects of economic situations exacerbated by the government shutdown.”
   (Construction)

• “The government shutdown is not affecting our business at this time.”
   (Finance + Insurance)

• “Prices are volatile due to tariff restrictions.”
   (Management of Companies + Support Services)

• “We are trying to hold out through the government shutdown. Currently, our work is continuing with already obligated prior-year funds. We have not had to suspend any activities. The shutdown is affecting the United States Agency for International Development’s [USAID] and the Department of State’s ability to process actions, share information or plan for the future. That is the shutdown’s effect on us. The longer it lasts, the greater the disruption.”
   (Professional, Scientific + Technical Services)

• “Apprehension regarding overall economic conditions due to uncertainly of the partial government shutdown, its effect on business climate and lack of national strategic direction. Economic activity remains strong locally; however, there is concern that this may change quickly due to uncertainty and reports of slowing economic indicators.”
   (Public Administration)

• “Order input stable, and supplier deliveries growing. The industry is struggling with capacity constraints.”
   (Real Estate, Rental + Leasing)

• “Things are steady. We’re trying to mitigate any impact of the tariffs.”
   (Retail Trade)

• “The shutdown and potential delay in tax refunds will hurt our business.”
   (Wholesale Trade)

• “Central processing unit (CPU) shortages continue to impact fulfillment of orders.”
   (Transportation + Warehousing)

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• Click here to view the complete ISM report

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ISM Non-Manufacturing Index (NMI®) - 12 Month History - January 2019 Update

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