Monday, July 06, 2020

ISM Non-Manufacturing Index increased to 57.1% in June

by Calculated Risk on 7/06/2020 10:05:00 AM

The June ISM Non-manufacturing index was at 57.1%, up from 45.4% in May. The employment index increased to 43.1%, from 31.8%. Note: Above 50 indicates expansion, below 50 contraction.

From the Institute for Supply Management: June 2020 Non-Manufacturing ISM Report On Business®

Economic activity in the non-manufacturing sector grew in June after two consecutive months of contraction, say the nation’s purchasing and supply executives in the latest Non-Manufacturing ISM® Report On Business®.

The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management® (ISM®) Non-Manufacturing Business Survey Committee: “The NMI® registered 57.1 percent, 11.7 percentage points higher than the May reading of 45.4 percent. This reading represents growth in the non-manufacturing sector after a two-month period of contraction preceded by 122 straight months of expansion. This is the largest single-month percentage-point increase in the NMI® since its debut in 1997. (In April, the index suffered its biggest one-month decrease, a 10.7-percent drop.) The Business Activity Index registered 66 percent, up 25 percentage points from May’s figure of 41 percent. The New Orders Index registered 61.6 percent; 19.7 percentage points higher than the reading of 41.9 percent in May. The Employment Index increased to 43.1 percent; 11.3 percentage points higher than the May reading of 31.8 percent.
emphasis added