US Services Activity Growth at 21-Month Low: ISM


The ISM Non-Manufacturing PMI index for the United States fell to 55.5 in April 2019 from 56.1 in March and below market expectations of 57. The latest reading pointed to weakest expansion in the services sector since July 2017, mainly due to a slowdown in new orders and employment. Service providers remained mostly optimistic about overall business conditions, still there are concerns regarding employment resources.

Slower increases were seen in new orders (58.1 from 59 in March), employment (53.7 from 55.9), supplier deliveries (50.5 from 52), and backlogs of orders (55 from 56.5). Also, price pressures softened (55.7 from 58.7). On the other hand, business activity/production (59.5 from 57.4), new export orders (57 from 52.5), and inventories (51.5 from 50) advanced further.

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

 US Services Activity Growth at 21-Month Low: ISM


ISM | Stefanie Moya | stefanie.moya@tradingeconomics.com
5/3/2019 2:09:09 PM