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ISM Non-Manufacturing Index Shows Expansion

By Anonymous

April ISM Non-Manufacturing index 55.4%, unchanged from March.

This shows further growth in the service sector, although employment contracted for the 28th consecutive month.

From the Institute for Supply Management: April 2010 Non-Manufacturing ISM Report On Business®

Economic activity in the non-manufacturing sector grew in April for the fourth consecutive month, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business®.

The report was issued today by Anthony Nieves, C.P.M., CFPM, chair of the Institute for Supply Management? Non-Manufacturing Business Survey Committee; and senior vice president ? supply management for Hilton Worldwide. "The NMI (Non-Manufacturing Index) registered 55.4 percent in April, the same percentage as registered in March, and indicating growth in the non-manufacturing sector. The Non-Manufacturing Business Activity Index increased 0.3 percentage point to 60.3 percent, reflecting growth for the fifth consecutive month. The New Orders Index decreased 4.1 percentage points to 58.2 percent, and the Employment Index decreased 0.3 percentage point to 49.5 percent."
...
Employment activity in the non-manufacturing sector contracted in April for the 28th consecutive month. ISM's Non-Manufacturing Employment Index for April registered 49.5 percent. This reflects a decrease of 0.3 percentage point when compared to the 49.8 percent registered in March.
emphasis added

Full post as published by Calculated Risk on May 05, 2010 (boomark / email).