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HomeNewsEconomyNon-Manufacturing Report On Business: Service Sector Expands in March

Non-Manufacturing Report On Business: Service Sector Expands in March

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Service sector employee, nurse at a hospital. (Photo: REUTERS)

The Non-Manufacturing ISM Report On Business, the Institute for Supply Management’s gauge of U.S. service sector growth, increased to 54.5 in March. The NMI, which is up from 53.4 in February, beat the median economic forecast for a reading of 54.

“According to the NMI, 12 non-manufacturing industries reported growth in March,” said Anthony Nieves, chair of the Institute for Supply Management Non-Manufacturing Business Survey Committee.”The majority of respondents’ comments indicate that business conditions are mostly positive and that the economy is stable and will continue on a course of slow, steady growth.”

Readings above 50 indicate expansion, while those below point to contraction.

SERVICE SECTOR INDUSTRY PERFORMANCE IN MARCH

The 12 non-manufacturing industries reporting growth in March — listed in order — are: Educational Services; Information; Wholesale Trade; Finance & Insurance; Health Care & Social Assistance; Retail Trade; Mining; Management of Companies & Support Services; Accommodation & Food Services; Public Administration; Utilities; and Professional, Scientific & Technical Services. The two industries reporting contraction in March are: Arts, Entertainment & Recreation; and Transportation & Warehousing.

ISM® NON-MANUFACTURING SURVEY RESULTS AT A GLANCE
COMPARISON OF ISM® NON-MANUFACTURING AND ISM® MANUFACTURING SURVEYS*
MARCH 2016
Non-Manufacturing Manufacturing
Index Series
Index
Mar
Series
Index
Feb
Percent
Point
Change
Direction Rate
of
Change
Trend**
(Months)
Series
Index
Mar
Series
Index
Feb
Percent
Point
Change
NMI®/PMI® 54.5 53.4 +1.1 Growing Faster 74 51.8 49.5 +2.3
Business Activity/Production 59.8 57.8 +2.0 Growing Faster 80 55.3 52.8 +2.5
New Orders 56.7 55.5 +1.2 Growing Faster 80 58.3 51.5 +6.8
Employment 50.3 49.7 +0.6 Growing From
Contracting
1 48.1 48.5 -0.4
Supplier Deliveries 51.0 50.5 +0.5 Slowing Faster 3 50.2 49.7 +0.5
Inventories 52.5 52.5 0.0 Growing Same 12 47.0 45.0 +2.0
Prices 49.1 45.5 +3.6 Decreasing Slower 3 51.5 38.5 +13.0
Backlog of Orders 52.0 52.0 0.0 Growing Same 3 51.0 48.5 +2.5
New Export Orders 58.5 53.5 +5.0 Growing Faster 2 52.0 46.5 +5.5
Imports 53.0 55.5 -2.5 Growing Slower 2 49.5 49.0 +0.5
Inventory Sentiment 62.5 62.0 +0.5 Too High Faster 226 N/A N/A N/A
Customers’ Inventories N/A N/A N/A N/A N/A N/A 49.0 47.0 +2.0
Overall Economy Growing Faster 80
Non-Manufacturing Sector Growing Faster 74

* Non-Manufacturing ISM® Report On Business® data is seasonally adjusted for Business Activity, New Orders, Prices and Employment Indexes. Manufacturing ISM® Report On Business® data is seasonally adjusted for New Orders, Production, Employment and Supplier Deliveries.

** Number of months moving in current direction.

Written by

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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