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ISM Non-Manufacturing Index had a slower rate of growth at 55.9% in November
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Economic activity in the non-manufacturing sector grew in November for the 70th consecutive month, say the nation’s purchasing and supply executives in the latest Non-Manufacturing ISM® Report On Business®.
The NMI® registered 55.9 percent in November, 3.2 percentage points lower than the October reading of 59.1 percent. This represents continued growth in the non-manufacturing sector at a slower rate. The Non-Manufacturing Business Activity Index decreased to 58.2 percent, which is 4.8 percentage points lower than the October reading of 63 percent, reflecting growth for the 76th consecutive month at a slower rate. The New Orders Index registered 57.5 percent, 4.5 percentage points lower than the reading of 62 percent in October. The Employment Index decreased 4.2 percentage points to 55 percent from the October reading of 59.2 percent and indicates growth for the 21st consecutive month. The Prices Index increased 1.2 percentage points from the October reading of 49.1 percent to 50.3 percent, indicating prices increased in November after two consecutive months of decreasing. According to the NMI®, 12 non-manufacturing industries reported growth in November. After a strong month of growth in October, the non-manufacturing sector’s rate of growth slowed in November. Most respondents are still positive about business conditions.
INDUSTRY PERFORMANCE
The 12 non-manufacturing industries reporting growth in November — listed in order — are: Real Estate, Rental & Leasing; Information; Retail Trade; Health Care & Social Assistance; Accommodation & Food Services; Transportation & Warehousing; Finance & Insurance; Professional, Scientific & Technical Services; Management of Companies & Support Services; Construction; Educational Services; and Public Administration. The six industries reporting contraction in November — listed in order — are: Mining; Arts, Entertainment & Recreation; Wholesale Trade; Utilities; Agriculture, Forestry, Fishing & Hunting; and Other Services.
Posted: December 3, 2015 Thursday 10:00 AM