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Thursday, December 2, 2021
HomeNewsEconomyISM Non-Manufacturing Index (NMI) Expectedly Ticks Down

ISM Non-Manufacturing Index (NMI) Expectedly Ticks Down

A waitress serves a steak and fried shrimp combo plate to a customer at Norms Diner on La Cienega Boulevard in Los Angeles, California May 20, 2015. (Photo: Reuters)
A waitress serves a steak and fried shrimp combo plate to a customer at Norms Diner on La Cienega Boulevard in Los Angeles, California May 20, 2015. (Photo: Reuters)

A waitress serves a steak and fried shrimp combo plate to a customer at Norms Diner on La Cienega Boulevard in Los Angeles, California May 20, 2015. (Photo: Reuters)

The Non-Manufacturing Index (NMI), the Institute for Supply Management (ISM) gauge of service sector activity, came in at an expected 56.9 in May. Seventeen of the 18 service sector industries reported growth, leaving only Educational Services in contraction.

“Although the non-manufacturing sector’s growth rate dipped in May, the sector continues to reflect strength, buoyed by the strong rate of growth in the Employment Index,” Anthony Nieves, the Chair of the Institute for ISM Non-Manufacturing Business Survey Committee said. “The majority of respondents’ comments continue to indicate optimism about business conditions and the overall economy.”

Backlogs, at 57.0, were very strong in the May Report on Business, which partly explain the boom in private-sector hiring for the month.

ISM® NON-MANUFACTURING SURVEY RESULTS AT A GLANCE
COMPARISON OF ISM® NON-MANUFACTURING AND ISM® MANUFACTURING SURVEYS*
MAY 2017
Non-Manufacturing Manufacturing
Index Series
Index
May
Series
Index
Apr
Percent
Point
Change
Direction Rate
of
Change
Trend**
(Months)
Series
Index
May
Series
Index
Apr
Percent
Point
Change
NMI®/PMI® 56.9 57.5 -0.6 Growing Slower 89 54.9 54.8 +0.1
Business Activity/Production 60.7 62.4 -1.7 Growing Slower 94 57.1 58.6 -1.5
New Orders 57.7 63.2 -5.5 Growing Slower 94 59.5 57.5 +2.0
Employment 57.8 51.4 +6.4 Growing Faster 39 53.5 52.0 +1.5
Supplier Deliveries 51.5 53.0 -1.5 Slowing Slower 17 53.1 55.1 -2.0
Inventories 54.0 52.5 +1.5 Growing Faster 2 51.5 51.0 +0.5
Prices 49.2 57.6 -8.4 Decreasing From Increasing 1 60.5 68.5 -8.0
Backlog of Orders 57.0 53.5 +3.5 Growing Faster 4 55.0 57.0 -2.0
New Export Orders 54.5 65.5 -11.0 Growing Slower 4 57.5 59.5 -2.0
Imports 48.5 53.0 -4.5 Contracting From Growing 1 53.5 55.5 -2.0
Inventory Sentiment 63.0 60.0 +3.0 Too High Faster 240 N/A N/A N/A
Customers’ Inventories N/A N/A N/A N/A N/A N/A 49.5 45.5 +4.0
Overall Economy Growing Slower 94
Non-Manufacturing Sector Growing Slower 89

* 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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