US ISM Non Manufacturing PMI at 3-Month High

The ISM Non-Manufacturing PMI index increased 1.1 percentage points to 55.5 percent in March of 2016, higher than market expectations of 54. It is the highest reading so far this year, boosted by increases in business activity, new orders and employment.

The Non-Manufacturing Business Activity Index increased to 59.8 percent, 2 percentage points higher than the February reading of 57.8 percent, reflecting growth for the 80th consecutive month, with a faster rate in March. 

The New Orders Index registered 56.7 percent, 1.2 percentage points higher than the reading of 55.5 percent in February. 

The Employment Index increased 0.6 percentage point to 50.3 percent from the February reading of 49.7 percent and indicates growth after a month of contraction. 

The Prices Index increased 3.6 percentage points from the February reading of 45.5 percent to 49.1 percent, indicating prices decreased in March for the fifth time in the last seven months. 

The 12 non-manufacturing industries reporting growth in March — listed in order — are: Educational Services; Information; Wholesale Trade; Finance & Insurance; Health Care & Social Assistance; Retail Trade; Mining; Management of Companies & Support Services; Accommodation & Food Services; Public Administration; Utilities; and Professional, Scientific & Technical Services. The two industries reporting contraction in March are: Arts, Entertainment & Recreation; and Transportation & Warehousing.

US ISM Non Manufacturing PMI at 3-Month High

ISM | Joana Taborda |
4/5/2016 3:08:31 PM