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Saturday, June 15, 2019
HomeNewsEconomyISM Service Sector Index (NMI) Beats Forecast for May

ISM Service Sector Index (NMI) Beats Forecast for May

A Walmart employee who serves as a "customer host," walks in front of the customer service desk at a Walmart super-center location in Gainesville, Florida. (Photo: Laura Baris/People's Pundit Daily/PPD)

NMI: Business Activity Rose to 61.2%, New Orders Gained to 58.6%, and Employment Increased to 58.1%

A Walmart employee who serves as a "customer host," walks in front of the customer service desk at a Walmart super-center location in Gainesville, Florida. (Photo: Laura Baris/People's Pundit Daily/PPD)
A Walmart employee who serves as a “customer host,” walks in front of the customer service desk at a Walmart super-center location in Gainesville, Florida. (Photo: Laura Baris/People’s Pundit Daily/PPD)

The Institute for Supply Management (ISM) Non-Manufacturing Index (NMI) for the U.S. service sector came in at 56.9 for May, beating the consensus forecast. That’s a gain of 1.4 percentage points from April, and indicates continued service sector growth at a slightly faster rate.

IndicatorPriorConsensus ForecastForecast RangeActual
NMI Composite Index – Level55.5 55.8 52.5  to 56.5 56.9 

The Non-Manufacturing Business Activity Index rose 1.7% to 61.2%, suggesting growth for the 118th consecutive month. The New Orders Index posted a slightly higher (0.5%) reading at 58.6%. The Employment Index rose 4.4% to 58.1% , while the Prices Index fell 0.3% from 55.7% to 55.4%, indicating that prices increased in May for the 24th consecutive month.

“According to the NMI, 16 non-manufacturing industries reported growth,” Anthony Nieves, Chair of the ISM Non-Manufacturing Business Survey Committee. “The non-manufacturing sector continues to experience a slight uptick in business activity, but it is still leveling off overall.”

“Respondents are mostly optimistic about overall business conditions, but concerns remain about tariffs and employment resources.”

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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