US Services Grew for 103rd Consecutive Month: ISM

The ISM Non-Manufacturing PMI index rose to 58.5 in August from 55.7 in July, beating expectations of 56.8. Production, new orders, employment, business activity, backlogs of orders and new export orders rose faster while supplier deliveries and price pressures eased.

Stronger growth was seen for business activity (60.7 from 56.5), new orders (60.4 from 57), employment (56.7 from 56.1), backlogs of orders (56.5 from 51.5) and new export orders (60.5 from 58). Also, both supplier deliveries (56 from 53) and price pressures (62.8 from 63.4) eased. 

 Logistics, tariffs and employment resources continue to have an impact on many of the respective industries. Overall, the respondents remain positive about business conditions and the economy.

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

US Services Grew for 103rd Consecutive Month: ISM

ISM | Joana Taborda |
9/6/2018 2:33:42 PM