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ISM Non-Manufacturing Index increases to 50.1%
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Economic activity in the non-manufacturing sector grew in December after one month of contraction, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business®.
The Non-Manufacturing Index registered 50.1 percent in December, 1.4 percentage points higher than the 48.7 percent registered in November, indicating growth in the non-manufacturing sector for three out of the last four months. The Non-Manufacturing Business Activity Index increased 4.1 percentage points to 53.7 percent, reflecting growth after contracting for one month. The New Orders Index decreased 3 percentage points to 52.1 percent, and the Employment Index increased 2.4 percentage points to 44 percent. The Prices Index increased 0.9 percentage point to 58.7 percent in December, indicating a slight increase in prices paid from November. According to the NMI, seven non-manufacturing industries reported growth in December. Respondents' comments vary by industry and, for the most part, are either neutral or slightly more optimistic about business conditions.
Posted: January 6, 2010 Wednesday 10:00 AM