US Services Growth Eases More than Expected


The ISM Non-Manufacturing PMI index for the United States fell to 58.8 in March of 2018 from 59.5 in February and compared to market forecasts of 59. A slowdown was mainly seen in new orders and production and price pressures intensified. On the other hand, employment went up faster and the majority of respondents remained positive about business conditions.

Slower increases were seen in business activity/production (60.6 from 62.8); new orders (59.5 from 64.8); and new export orders (58 from 59.5). Also, price pressures were higher (61.5 from 61), inventories showed no change (at 53.5) and supplier deliveries went up (58.5 from 55.5). On the other hand, employment (56.6 from 55) and backlogs of orders (56.5 from 56) rose more.

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

US Services Growth Eases More than Expected


ISM | Joana Taborda | joana.taborda@tradingeconomics.com
4/4/2018 2:17:09 PM