The ISM Non-Manufacturing Index registered 55.7 points in April, up 1.2 points from March’s rate and marking the 75th consecutive month of growth in the sector. Thirteen non-manufacturing industries reported growth in April, while four reported contraction.
Growth in the Business Activity Index fell to 58.8 points, down 1 point from March’s reading, but still indicating solid growth in activity. Respondents noted that capital spending had begun to “loosen up.” Fifteen industries including information, and finance and insurance reported growth, while mining, arts entertainment and recreation, and other services reported contraction.
Non-manufacturing employment grew for the second consecutive month, as the index rose 2.7 points to 53.0. Ten industries, including management of companies and support services, arts entertainment and recreation, and health care and social assistance reported employment growth, while five industries including mining and retail trade reported decreased employment.
The New Orders Index registered 59.9 points, up 3.2 from March. Respondents cited an improved business climate and more client hiring during the month.
Supplier deliveries slowed for the fourth consecutive month as the index remained at 51.0 points (readings above 50 for this index indicate slowed deliveries). Seven industries reported slower deliveries while six reported faster deliveries.
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