US Services Growth Beats Forecasts: ISM


The ISM Non-Manufacturing PMI index for the United States edged up to 60.7 in November of 2018 from 60.3 in October, beating market expectations of 59.2. The non-manufacturing sector continued to reflect strong growth in November although concerns persist about employment resources and the impact of tariffs. Yet, respondents remain positive about current business conditions and the direction of the economy.

Faster increases were seen in business activity/production (65.2 from 62.5), new orders (62.5 from 61.5), invesntories (57.5 from 56) and backlogs of orders (55.5 from 53.5). On the other hand, employment (58.4 from 59.7), supplier deliveries (56.5 from 57.5) and new export orders (57.5 from 61) slowed and price pressures intensified (64.3 from 61.7). 

The 17 non-manufacturing industries reporting growth in November — listed in order — are: Educational Services; Professional, Scientific & Technical Services; Health Care & Social Assistance; Transportation & Warehousing; Construction; Wholesale Trade; Real Estate, Rental & Leasing; Management of Companies & Support Services; Information; Finance & Insurance; Retail Trade; Other Services; Mining; Accommodation & Food Services; Public Administration; Arts, Entertainment & Recreation; and Utilities. The only industry reporting a decrease in November is Agriculture, Forestry, Fishing & Hunting.

US Services Growth Beats Forecasts: ISM


ISM | Joana Taborda | joana.taborda@tradingeconomics.com
12/6/2018 3:09:32 PM