ISM: Non-Manufacturing Sector Growth Accelerated in May

The ISM Non-Manufacturing Index registered 58.6 points in May, 1.8 percentage points above April’s figure. This was the 100th consecutive month of expansion as a reading above 50 indicates growth. Fourteen non-manufacturing industries reported growth, while one reported a decrease.

Growth in the Business Activity Index increased 2.2 points to 61.3, the 106th consecutive month of growth. Thirteen industries reported increased business activity, and two reported decreased activity.

Non-manufacturing employment grew for the 51st consecutive month. The index increased 0.5 point to 54.1. Eleven industries reported increased employment, while three reported decreased employment.

The New Orders Index increased 0.5 point to 60.5. Eleven industries reported increased business activity, and four reported decreased activity.

Supplier deliveries slowed for the 29th consecutive month, as the index registered 58.5 points (readings above 50 for this index indicate slower deliveries). Thirteen industries reported slower deliveries, while one industry reported faster deliveries.

Read the ISM release.

About Stephen Newton

Stephen Newton is an economic research associate at ABA.