ISM Non-Manufacturing Report Above Consensus

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

The ISM (Institute of Supply Management) Non-Manufacturing index for May was reported at 53.7, which was above the consensus estimate for a reading of 53.2 and the April reading of 53.5 (March: 56.7, February: 57.3).

Other components of the Report:

• Employment: 50.8 vs. last month: 54.2
  
• New Orders: 55.5 vs. last month: 54.6
  
• Business Index: 55.6 vs. last month: 54.6
  
• Prices Paid (inflation): 49.8 vs. last month: 53.6

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

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Other stories on the US Economy to review:

• Some Good News: Employment Trend Index Moves Up
  
• May Jobs Report Disappoints Big Time
  
• ISM Report Shows Growth Slowing
  
• Q1 GDP Revised Lower
  
• Weekly Jobless Claims Continue to Rise
  
• Challenger Planned Job Cuts Rise
  
• ADP Employment Report Below Expectations
  
• Pending Home Sales Tank

 

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