ISM: Non-Manufacturing Sector Grew in October

The ISM Non-Manufacturing Index registered 60.1 points in October, 0.3 percentage point above September’s figure. This was the 94th consecutive month of expansion as a reading above 50 indicates growth. Sixteen non-manufacturing industries reported growth in October, while two reported contraction. October’s reading was the highest since the index debuted in 2008.

Growth in the Business Activity Index increased 0.9 point to 62.2, the 99th consecutive month of growth. Sixteen industries reported increased business activity and one reported decreased activity.

Non-manufacturing employment grew for the 44th consecutive month. The index increased 0.7 point to 57.5. Thirteen industries reported increased employment, while three reported decreased employment.

The New Orders Index ticked down 0.2 point to 62.8. Sixteen industries reported increased business activity and two industries reported decreased activity.

Supplier deliveries slowed for the 22nd consecutive month, as the index registered 58.0 points (readings above 50 for this index indicate slower deliveries). Fourteen industries reported slower deliveries, while none reported faster deliveries.

Read the ISM release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.
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