US Services Sector Growth Remains Strong: ISM

The ISM Non-Manufacturing PMI index came in at 57.2 in December of 2016, the same as in the previous month and above market expectations of 56.6. It is the highest figure since October of 2015 as new orders increased while business activity and employment eased and price pressures went up.
ISM | Joana Taborda | 1/5/2017 4:01:02 PM
The Non-Manufacturing Business Activity Index decreased to 61.4 percent, 0.3 percentage point lower than the November reading of 61.7 percent, reflecting growth for the 89th consecutive month, at a slightly slower rate in December. 

The New Orders Index registered 61.6 percent, 4.6 percentage points higher than the reading of 57 percent in November. 

The Employment Index decreased 4.4 percentage points in December to 53.8 percent from the November reading of 58.2 percent. 

The Prices Index increased 0.7 percentage point from the November reading of 56.3 percent to 57 percent, indicating prices increased in December for the ninth consecutive month at a slightly faster rate. 

The 12 non-manufacturing industries reporting growth in December — listed in order — are: Mining; Retail Trade; Finance & Insurance; Information; Arts, Entertainment & Recreation; Construction; Other Services; Health Care & Social Assistance; Professional, Scientific & Technical Services; Utilities; Transportation & Warehousing; and Accommodation & Food Services. The three industries reporting contraction in December are: Public Administration; Wholesale Trade; and Agriculture, Forestry, Fishing & Hunting.

US Services Sector Growth Remains Strong: ISM