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Economic activity in the non-manufacturing sector grew in April

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Economic activity in the non-manufacturing sector grew in April

April ISM index shows 51st consecutive month of growth.

Economic activity in the non-manufacturing sector grew in April for the 51st consecutive month, according to the latest Non-Manufacturing ISM Report On Business.

The monthly survey reflects the perspective of the nation's purchasing and supply executives.

Anthony Nieves, chair of the Institute for Supply Management’s Non-Manufacturing Business Survey Committee, reported the findings.

"The NMI registered 55.2% in April, 2.1 percentage points higher than March's reading of 53.1%,” he said.

"The majority of survey respondents' comments indicate that both business conditions and the economy are improving." 

“The Non-Manufacturing Business Activity Index increased substantially to 60.9%, which is 7.5 percentage points higher than the March reading of 53.4%, reflecting growth for the 57th consecutive month at a much faster rate.

“The New Orders Index registered 58.2%, 4.8 percentage points higher than the reading of 53.4%registered in March. The Employment Index decreased 2.3 percentage points to 51.3%from the March reading of 53.6% and indicates growth for the second consecutive month, but at a slower rate.

“The Prices Index increased 2.5 percentage points from the March reading of 58.3% to 60.8%, indicating prices increased at a faster rate in April when compared to March.

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“According to the NMI, 14 non-manufacturing industries reported growth in April. The majority of survey respondents' comments indicate that both business conditions and the economy are improving." 

 

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