ISM: Non-Manufacturing Sector Growth Slowed in March

The ISM Non-Manufacturing Index registered 58.8 points in March, 0.7 percentage point below February’s figure. This was the 98th consecutive month of expansion as a reading above 50 indicates growth. Fifteen non-manufacturing industries reported growth in March, while two reported contraction.

Growth in the Business Activity Index decreased 2.2 points to 60.6, the 104th consecutive month of growth. Thirteen industries reported increased business activity, and one reported decreased activity.

Non-manufacturing employment grew for the 49th consecutive month. The index increased 1.6 points to 56.6. Twelve industries reported increased employment, while two reported decreased employment.

The New Orders Index decreased 5.3 points to 59.5. Thirteen industries reported increased business activity, and two industry reported decreased activity.

Supplier deliveries slowed for the 27th consecutive month, as the index registered 58.5 points (readings above 50 for this index indicate slower deliveries). Eleven industries reported slower deliveries, while no industry reported faster deliveries.

Read the ISM release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.
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