US Service Sector Up to 8-Month High


The Institute for Supply Management index of non-manufacturing activity rose to 55.2 in April, up from 53.1 in March, as new orders surged and overall activity rose the most since early 2008.

The Non-Manufacturing Business Activity Index increased substantially to 60.9 percent, which is 7.5 percentage points higher than the March reading of 53.4 percent, reflecting growth for the 57th consecutive month at a much faster rate. The New Orders Index registered 58.2 percent, 4.8 percentage points higher than the reading of 53.4 percent registered in March. The Employment Index decreased 2.3 percentage points to 51.3 percent from the March reading of 53.6 percent and indicates growth for the second consecutive month, but at a slower rate. The Prices Index increased 2.5 percentage points from the March reading of 58.3 percent to 60.8 percent, indicating prices increased at a faster rate in April when compared to March. 

According to the NMI, 14 non-manufacturing industries reported growth in April. The majority of survey respondents' comments indicate that both business conditions and the economy are improving.

US Service Sector Up to 8-Month High


Institute for Supply Management | Joana Taborda | joana.taborda@tradingeconomics.com
5/5/2014 3:12:00 PM