US Non-Manufacturing Activity Grows Faster in May

The ISM Non-Manufacturing PMI for the United States rose to a three-month high of 56.9 in May 2019 from 55.5 in the previous month and above market expectations of 55.5.

Increases were seen in business activity (61.2 vs 59.5 in April), new orders (58.6 vs 58.1), and employment (58.1 vs 53.7), while new export orders growth slowed (55.5 vs 57.0) and imports were flat (50.0 vs 55.0). In addition, supplier deliveries dropped from the previous month (49.5 vs 50.5) and prices rose at softer pace (55.4 vs 55.7).

"According to the NMI, 16 non-manufacturing industries reported growth. The non-manufacturing sector continues to experience a slight uptick in business activity, but it is still leveling off overall. Respondents are mostly optimistic about overall business conditions, but concerns remain about tariffs and employment resources.

The 16 non-manufacturing industries reporting growth in May — listed in order — are: Accommodation & Food Services; Educational Services; Management of Companies & Support Services; Construction; Transportation & Warehousing; Real Estate, Rental & Leasing; Utilities; Wholesale Trade; Public Administration; Professional, Scientific & Technical Services; Mining; Health Care & Social Assistance; Other Services; Finance & Insurance; Information; and Retail Trade. The only industry reporting a decrease is Agriculture, Forestry, Fishing & Hunting."

US Non-Manufacturing Activity Grows Faster in May

ISM | Joana Ferreira |
6/5/2019 2:12:16 PM