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Non-manufacturing activity increases in March

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Non-manufacturing activity increases in March

Economic activity in the non-manufacturing sector grew in March for the 50th consecutive month, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business.

Anthony Nieves, the chair of the ISM Non-Manufacturing Business Survey Committee, reported the findings.

"The NMI® registered 53.1% in March, 1.5 percentage points higher than February's reading of 51.6%. The Non-Manufacturing Business Activity Index decreased to 53.4% percent, which is 1.2 percentage points lower than the reading of 54.6% reported in February, reflecting growth for the 56th consecutive month but at a slower rate.

“According to the NMI, 13 non-manufacturing industries reported growth in March. Despite the affects of weather on many of the respective businesses, the majority of respondents indicate that business conditions are improving. The respondents also project better business activity and economic conditions as weather conditions continue to improve.

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“The New Orders Index registered 53.4%, 2.1 percentage points higher than the reading of 51.3% registered in February. The Employment Index increased 6.1 percentage points to 53.6% from the February reading of 47.5% and indicates substantial growth after one month of contraction. The Prices Index increased 4.6 percentage points from the February reading of 53.7% to 58.3%, indicating prices increased at a faster rate in March when compared to February.”

 

 

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