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ISM Non-Manufacturing Index slips to 50.6%
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Economic activity in the non-manufacturing sector expanded in October for the second consecutive month, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business®.
The Non-Manufacturing Index registered 50.6 percent in October, 0.3 percentage point lower than the 50.9 percent registered in September, indicating growth in the non-manufacturing sector for the second consecutive month, but at a slightly slower rate. The Non-Manufacturing Business Activity Index increased 0.1 percentage point to 55.2 percent. This is the third consecutive month this index has reflected growth since September 2008. The New Orders Index increased 1.4 percentage points to 55.6 percent, and the Employment Index decreased 3.2 percentage points to 41.1 percent. The Prices Index increased 4.2 percentage points to 53 percent in October, indicating an increase in prices paid from September. According to the NMI, nine non-manufacturing industries reported growth in October. Respondents' comments remain mixed and are mostly cautious about business conditions and the overall economy.
Posted: November 4, 2009 Wednesday 10:00 AM