ISM: Non-Manufacturing Index Remained Strong in February

The ISM Non-Manufacturing Index registered 59.5 points in February, 0.4 percentage point below January’s figure. This was the 97th consecutive month of expansion as a reading above 50 indicates growth. Sixteen non-manufacturing industries reported growth in February, while two reported contraction.

Growth in the Business Activity Index increased 3.0 points to 62.8, the 103rd consecutive month of growth. Fifteen industries reported increased business activity, and two reported decreased activity.

Non-manufacturing employment grew for the 48th consecutive month. The index decreased 6.6 points to 55.0. Thirteen industries reported increased employment, while three reported decreased employment.

The New Orders Index rose 2.1 points to 64.8. Fifteen industries reported increased business activity, and one industry reported decreased activity.

Supplier deliveries slowed for the 26th consecutive month, as the index registered 55.5 points (readings above 50 for this index indicate slower deliveries). Ten industries reported slower deliveries, while two reported faster deliveries.

Read the ISM release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.