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Thursday, December 2, 2021
HomeNewsEconomyU.S. Service Sector Growth Slows Before the Presidential Election

U.S. Service Sector Growth Slows Before the Presidential Election

service-sector-hospital-nurse-reuters
service-sector-hospital-nurse-reuters

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

The Non-Manufacturing Report on Business, the Institute for Supply Management’s gauge of service-sector growth fell to 54.8 last month from 57.1 in September. The reading missed the median forecast calling for a reading of 56.

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

The report comes before the U.S. presidential election, in which the economy has largely been drown out by personal attacks from both sides. In truth, Democratic presidential candidate Hillary Clinton has done her best to distract from the issue, which voters trust Donald Trump more on by substantial margins.

The 13 service sector industries reporting growth in October — listed in order — are: Transportation & Warehousing; Construction; Other Services; Management of Companies & Support Services; Information; Professional, Scientific & Technical Services; Real Estate, Rental & Leasing; Wholesale Trade; Utilities; Finance & Insurance; Retail Trade; Accommodation & Food Services; and Health Care & Social Assistance.

The 5service sector industries reporting contraction in October are: Educational Services; Mining; Agriculture, Forestry, Fishing & Hunting; Public Administration; and Arts, Entertainment & Recreation.

ISM® NON-MANUFACTURING SURVEY RESULTS AT A GLANCE
COMPARISON OF ISM® NON-MANUFACTURING AND ISM® MANUFACTURING SURVEYS*
OCTOBER 2016
Non-Manufacturing Manufacturing
Index Series
Index
Oct
Series
Index
Sep
Percent
Point
Change
Direction Rate
of
Change
Trend**
(Months)
Series
Index
Oct
Series
Index
Sep
Percent
Point
Change
NMI®/PMI® 54.8 57.1 -2.3 Growing Slower 81 51.9 51.5 +0.4
Business Activity/Production 57.7 60.3 -2.6 Growing Slower 87 54.6 52.8 +1.8
New Orders 57.7 60.0 -2.3 Growing Slower 87 52.1 55.1 -3.0
Employment 53.1 57.2 -4.1 Growing Slower 5 52.9 49.7 +3.2
Supplier Deliveries 50.5 51.0 -0.5 Slowing Slower 10 52.2 50.3 +1.9
Inventories 52.0 51.5 +0.5 Growing Faster 2 47.5 49.5 -2.0
Prices 56.6 54.0 +2.6 Increasing Faster 7 54.5 53.0 +1.5
Backlog of Orders 52.0 52.0 0.0 Growing Same 2 45.5 49.5 -4.0
New Export Orders 55.5 56.5 -1.0 Growing Slower 2 52.5 52.0 +0.5
Imports 53.0 51.0 +2.0 Growing Faster 9 52.0 49.0 +3.0
Inventory Sentiment 62.0 64.5 -2.5 Too High Slower 233 N/A N/A N/A
Customers’ Inventories N/A N/A N/A N/A N/A N/A 49.5 53.0 -3.5
Overall Economy Growing Slower 87
Non-Manufacturing Sector Growing Slower 81

* 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
Staff Writing Group

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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