ABA Banking Journal
The ISM Non-Manufacturing Index registered 55.3 points in August, 1.4 percentage points above July’s figure. This was the 92nd consecutive month of expansion as a reading above 50 indicates growth. Fifteen non-manufacturing industries reported growth in August, while two reported contraction.
Growth in the Business Activity Index increased 1.6 points to 57.5, the 97th consecutive month of growth. Twelve industries reported increased business activity and three reported decreased activity.
Non-manufacturing employment grew for the 42nd consecutive month. The index increased 2.6 points to 56.2. Eleven industries reported increased employment, while three reported decreased employment.
The New Orders Index grew 2.0 points to 57.1. Fourteen industries reported increased business activity and two industry reported decreased activity.
Supplier deliveries slowed for the 20th consecutive month, as the index registered 50.5 points (readings above 50 for this index indicate slower deliveries). Seven industries reported slower deliveries, while six reported faster deliveries.
Read the ISM release.
