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

The ISM (Institute of Supply Management) Non-Manufacturing index for July was reported at 52.6, which was above the consensus estimate for a reading of 52.2 and the June reading of 52.1 (May: 53.7, April: 53.5, March: 56.7, February: 57.3).

Economic activity in the non-manufacturing sector grew in July for the 31st consecutive month.

Other components of the Report:

• Employment: 49.3vs. last month: 52.3
  
• New Orders: 54.3 vs. last month: 53.3
  
• Business Activity Index: 57.2 vs. last month: 51.7
  
• Prices Paid (inflation): 54.9 vs. last month: 48.9

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:

• Job Growth Improves in July
  
• Factory Orders Miss Mark in June
  
• Challenger Planned Job Cuts Drop in July
  
• ISM Manufacturing Still Sub-50 in July
  
• ADP Employment Report Surprises to Upside in July
  
• Consumer Confidence Perks Up in July, But...
  
• Chicago PMI Headline BTE, But Employment Dives
  
• Personal Income Up, Spending Flat in June
  
• GDP Slows to 1.5% in Q2
  
• Pending Home Sales Down in June
  
• Durable Goods Up on Transportation Orders
  
• Markit's Flash Manufacturing PMI Weakest in 19 Months
  
• Philly Fed Down Again in July
  
• LEI Falls Again in June
  
• Existing Home Sales Fall in June
  
• Housing Starts Higher, Permits Lower in June
  
• Industrial Production Above, Capacity Utilization Below Expectations
  
• CPI Shows Inflation Flat in June
  
• Empire Manufacturing Improves in July
  
• Retail Sales Disappoint in June
  
• PPI Up in June
  
• Import/Export Prices Down in June
  
• NFIB Small Business Optimism Index Pulls Back Again

 

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