The ISM Non-Manufacturing Index registered 57.2 points in November, up 2.4 points from the previous month. This is the highest reading since October 2015 as the non-manufacturing sector continues to grow at a faster rate. Fourteen non-manufacturing industries reported growth in November, while two reported contraction.
Growth in the Business Activity Index jumped 4.0 points to 61.7. Sixteen industries reported increased business activity and one reported decreased activity. Respondents noted an increase in capital projects and the volume of business has been trending up consistently.
Non-manufacturing employment grew for the sixth consecutive month. The index increased 5.1 points to 58.2, which is the highest reading since October 2015. Some respondents noted an adjustment to new business conditions and more work to complete before year-end.
The New Orders Index fell 0.7 point to 57.0, indicating growth, but at a slower pace. Some respondents commented that they had seen growth in business sales and the seasonal end of year push.
Supplier deliveries slowed for the 11th consecutive month, as the index registered 52.0 points (readings above 50 for this index indicate slower deliveries). Six industries reported slower deliveries, while two reported faster deliveries.
Read the ISM release.
