US Services Sector Growth Highest Since 2005: ISM

The ISM Non-Manufacturing PMI index for the United States jumped to 59.9 in January of 2018 from an upwardly revised 56 in December, beating market forecasts of 56.5. The reading pointed to the strongest expansion in the services sector since August of 2005 amid rising production, new orders and employment which was the strongest on record.
ISM | Joana Taborda | joana.taborda@tradingeconomics.com 2/5/2018 3:29:53 PM
Faster increases were seen for business activity/production (59.8 from 57.8); new orders (62.7 from 54.5, the highest since January of 2011); employment (61.6 from 56.3, the highest on record); backlogs (50.5 from 50); and new export orders (58 from 56.5). On the other hand, inventories declined (49 from 53.5) and prices went up (61.9 from 59.9).

The 15 non-manufacturing industries reporting growth in January — listed in order — are: Management of Companies & Support Services; Arts, Entertainment & Recreation; Mining; Utilities; Retail Trade; Construction; Transportation & Warehousing; Public Administration; Real Estate, Rental & Leasing; Health Care & Social Assistance; Agriculture, Forestry, Fishing & Hunting; Educational Services; Finance & Insurance; Wholesale Trade; and Accommodation & Food Services. The three industries reporting contraction in January are: Information; Other Services; and Professional, Scientific & Technical Services.

US Services Sector Growth Highest Since 2005: ISM