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Thursday, August 6, 2020
HomeNewsEconomyNon-Manufacturing Index (NMI) Rises More than Expected in May

Non-Manufacturing Index (NMI) Rises More than Expected in May

United States Postal Service (USPS) workers don face masks and gloves behind plexiglass at the USPS location on N. Main in Gainesville, Fla., during the coronavirus (COVID-19) pandemic. (Photo: People's Pundit Daily/PPD)

Tempe, Arizona (PPD) — The Institute for Supply Management (ISM) Non-Manufacturing Index (NMI) rose more than expected in May to 45.4%. That’s an increase of 3.6 percentage points from the April reading of 41.8%.

United States Postal Service (USPS) workers don face masks and gloves behind plexiglass at the USPS location on N. Main in Gainesville, Fla., during the coronavirus (COVID-19) pandemic. (Photo: People's Pundit Daily/PPD)
United States Postal Service (USPS) workers don face masks and gloves behind plexiglass at the USPS location on N. Main in Gainesville, Fla., during the coronavirus (COVID-19) pandemic. (Photo: People’s Pundit Daily/PPD)

Forecasts ranged from a low of 43.5 to a high 46.5. The consensus forecast was 44.0. The rebound comes after the lowest reading for the NMI since March 2009, when it was 40.1.

The Business Activity Index rose 15 percentage points from April at 41%. The New Orders Index gained 9 percentage points to 41.9%, up from a reading of 32.9% in April. The Employment Index increased 1.8 percentage points to 31.8%.

On Monday, the ISM Manufacturing Index (PMI) came in at 43.1% in May, up from 49.1% in April and also beating the consensus forecast. This reading indicates expansion after one month of contraction that ended 131 consecutive months of growth.

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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