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ISM Non-Manufacturing Index drops to 40.8%
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The NMI (Non-Manufacturing Index) registered 40.8 percent in March, 0.8 percentage point lower than the 41.6 percent registered in February, indicating contraction in the non-manufacturing sector for the sixth consecutive month at a slightly faster rate. The Non-Manufacturing Business Activity Index increased 3.9 percentage points to 44.1 percent. The New Orders Index decreased 1.9 percentage points to 38.8 percent, and the Employment Index decreased 5 percentage points to 32.3 percent.
The Prices Index decreased 9 percentage points to 39.1 percent in March, indicating a faster decrease in prices from February. According to the NMI, one non-manufacturing industry reported growth in March. Respondents remain concerned about the negative economic outlook and rising unemployment. A special question was asked with regard to the Economic Stimulus Package, and eight of the 18 industries expect to derive some benefit from the stimulus.
Posted: April 3, 2009 Friday 10:00 AM