The ISM Non-Manufacturing Index registered 56.5 points in January, 0.1 percentage point below December’s figure. This was the 85th consecutive month of growth. Twelve non-manufacturing industries reported growth in January, while five reported contraction.
Growth in the Business Activity Index decreased 0.6 points to 60.3. Thirteen industries reported increased business activity and three reported decreased activity. Respondents noted moderate business expansion and converted prospects to contracts.
Non-manufacturing employment grew for the 35th consecutive month. The index increased 2.0 points to 54.7. Seven industries reported increased employment, while seven reported decreased employment.
The New Orders Index fell 2.1 points to 58.6. Some respondents commented that they saw some new accounts and a resumption of activity that slowed for the holidays.
Supplier deliveries slowed for the 13th consecutive month, as the index registered 52.5 points (readings above 50 for this index indicate slower deliveries). Six industries reported slower deliveries, while five reported faster deliveries.
Read the ISM release.