Monday, April 6, 2015

Non-Manufacturing ISM Index Drops Slightly in March

The Non-Manufacturing ISM Report on Business Index was 56.5 in March, down 0.4 points from February. Index readings above 50 indicate expansion in the non-manufacturing economy. March was the 62nd consecutive month of economic growth. Fourteen industries reported growth in March, while four industries—Mining; Educational Services; Other Services; and Utilities—contracted.

The Business Activity Index was 57.5, 1.9 points lower than the previous month. Respondents noted that “current business conditions are positive,” and that lower fuel prices were “improving overall profits.”

The Employment index was 56.6, up 0.2 points from February, as 13 industries reported employment increases. Respondents noted that “funding [was] available for additional positions.”

The New Orders index expanded for the 68th consecutive month, rising 1.1 points to 57.8. Respondents cited new customers and “higher loan application volume,” as reasons for the increase.

Prices paid increased for the first time in 3 months. The index rose to 52.4, up from 49.7 in February. Eleven industries reported an increase, while 4 reported decreases.

Supplier deliveries dropped slightly to 54 points, down 1.0 point from last month. Nine industries reported slower deliveries while Mining, Agriculture, Educational Services, and Finances and Insurance reported faster deliveries.

Read the ISM release

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