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Non-Manufacturing business activity increases slightly

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Non-Manufacturing business activity increases slightly

ISM report indicates slight growth, tempered optimism in January.

Economic activity in the non-manufacturing sector grew in January for the 48th consecutive month, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business® .

The overall index increased by one percentage point in January, suggesting continued growth, and led largely by a two percentage point increase in the Business Activity sub-index. 

Other elements of the overall index increased as well, including new orders (increased to 50.9 percent, or 0.5 percentage point); employment (increased 0.8 percentage point to 56.4 percent); and prices (increased 2.4 percentage points to 57.1 percent).

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"There remains a bit of uncertainty about the overall economy for some of the survey respondents; however, the majority feel positive about continued economic growth."

According to the report, eleven non-manufacturing industries reported growth in January. Anthony Nieves, the chair of the Institute for Supply Management ® Non-Manufacturing Business Survey Committee, commented that “the majority of respondents' comments reflect an improvement in business conditions.  Some of the respondents indicate that weather conditions have impacted their business.  There remains a bit of uncertainty about the overall economy for some of the survey respondents; however, the majority feel positive about continued economic growth."

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