Widget Image
Follow PPD Social Media
Friday, March 29, 2024
HomeNewsEconomyNon-Manufacturing Index (NMI) Finally Cools in November

Non-Manufacturing Index (NMI) Finally Cools in November

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) came in at 57.4% in November, a welcomed slower growth rate given the overheated levels in recent months. Analysts believed the levels of strong growth in the index by the Institute for Supply Management (ISM) were unsustainable, though the consensus called for 59.0.

“The rate of growth has lessened in the non-manufacturing sector after two very strong months of growth,” said Anthony Nieves, Chair of the ISM Non-Manufacturing Business Survey Committee. “Comments from the survey respondents indicate that the economy and sector will continue to grow for the remainder of the year.”

Only one industry — Agriculture, Forestry, Fishing & Hunting — reported contraction in November.

The 16 non-manufacturing industries reporting growth in November — listed in order — are: Retail Trade; Wholesale Trade; Utilities; Transportation & Warehousing; Real Estate, Rental & Leasing; Educational Services; Health Care & Social Assistance; Arts, Entertainment & Recreation; Other Services; Public Administration; Information; Finance & Insurance; Construction; Management of Companies & Support Services; Accommodation & Food Services; and Professional, Scientific & Technical Services.

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.

No comments

leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

People's Pundit Daily
You have %%pigeonMeterAvailable%% free %%pigeonCopyPage%% remaining this month. Get unlimited access and support reader-funded, independent data journalism.

Start a 14-day free trial now. Pay later!

Start Trial