US Services Sector Rises the Most Since 2005: ISM


The ISM Non-Manufacturing PMI index for the United States increased to 60.1 in October of 2017 from 59.8 in September, beating market expectations of 58.5. It is a new high reading since August of 2005, as production, employment and inventories continued to rise and the outlook for business conditions remained positive. It is the 4th time in the whole series the number is above 60.

Increases were seen for business activity/production (60.1 from 59.8); employment (57.5 from 56.8); inventories (52.5 from 51.5) and new export orders (60 from 56). Also, price pressures slowed (62.7 from 66.3), backlog of orders eased (53.5 from 56) and supplier deliveries were flat at 58. On the other hand, general new orders slowed slightly (62.8 from 63).

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

US Services Sector Rises the Most Since 2005: ISM


ISM | Joana Taborda | joana.taborda@tradingeconomics.com
11/3/2017 2:17:32 PM