ISM Non-Manufacturing (Services Sector) Index Above Expectations

Headline Alert

Economic Update: ISM Non-Manufacturing (Services Sector) Index

The ISM (Institute of Supply Management) Non-Manufacturing index for May was reported at 54.6, which was above the consensus estimate for a reading of 53.9 and also above the April reading of 53.7 (March: 57.3, February: 59.7, January: 59.4 December: 57.1, November: 55.0, October: 54.3).

Other components of the Report:

• Business Index: 53.6 vs. 53.7
  
• Employment: 54.0 vs. 51.9
  
• Prices (inflation): 69.6 vs. 51.9
  
• New Orders: 56.8 vs. 52.7

The index is designed to indicate the state of the services sector. Readings above 50 are indicative of expansion while below 50 suggests contraction in the sector.

 

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