US ISM Non Manufacturing PMI Beats Forecasts


The ISM Non-Manufacturing PMI index for the United States jumped to 58.6 in May of 2018 from 56.8 in April, well above market expectations of 57.5. Faster increases were seen for business activity, new orders and employment. Firms remain optimistic about business conditions and the overall economy although there continue to be concerns about the uncertainty surrounding tariffs, trade agreements and the impact on cost of goods sold.

Growth accelerated for business activity (61.3 from 59.1), new orders (60.5 from 60), employment (54.1 from 53.6), inventories (57.5 from 57) and backlog of orders (60.5 from 52). On the other hand, a slowdown was seen for supplier deliveries (58.5 from 54.5) and new export orders (57.5 from 61.5) and price pressures intensified (64.3 from 61.8).

The 14 non-manufacturing industries reported growth in May — listed in order — are: Wholesale Trade; Mining; Real Estate, Rental & Leasing; Construction; Retail Trade; Management of Companies & Support Services; Professional, Scientific & Technical Services; Transportation & Warehousing; Public Administration; Agriculture, Forestry, Fishing & Hunting; Accommodation & Food Services; Finance & Insurance; Utilities; and Other Services. The only industry reporting a decrease is Information.

US ISM Non Manufacturing PMI Beats Forecasts


ISM | Joana Taborda | joana.taborda@tradingeconomics.com
6/5/2018 2:09:59 PM