Wednesday, March 6, 2013

USA Services Sector Grows, Employment Increases

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ISM: Monthly USA NMI

ISM Non-Manufacturing Index (NMI) by Month
NMI > 50.0 is expansion, NMI < 50.0 is contraction



Anthony Nieves, Chair of the Institute for Supply Management Non-Manufacturing Business Survey Committee said, "The NMI™ registered 56 percent in February, 0.8 percentage point higher than the 55.2 percent registered in January. This indicates continued growth at a slightly faster rate in the non-manufacturing sector. This month's reading also reflects the highest NMI™ since February 2012, when the index registered 56.1 percent. The Non-Manufacturing Business Activity Index registered 56.9 percent, which is 0.5 percentage point higher than the 56.4 percent reported in January, reflecting growth for the 43rd consecutive month. The New Orders Index increased by 3.8 percentage points to 58.2 percent, and the Employment Index decreased 0.3 percentage point to 57.2 percent, indicating growth in employment for the seventh consecutive month. The Prices Index increased 3.7 percentage points to 61.7 percent, indicating prices increased at a faster rate in February when compared to January. According to the NMI™, 13 non-manufacturing industries reported growth in February. The majority of respondents' comments reflect a growing optimism about the trend of the economy and overall business conditions."

ISM Non-Manufacturing Index (NMI) by Year
NMI > 50.0 is expansion, NMI < 50.0 is contraction



American Services Sector Employment Increases "Employment activity in the non-manufacturing sector grew in February for the seventh consecutive month. ISM's Non-Manufacturing Employment Index registered 57.2 percent, which reflects a decrease of 0.3 percentage point when compared to the 57.5 percent registered in January. Eleven industries reported increased employment, five industries reported decreased employment, and two industries reported unchanged employment compared to January. Comments from respondents include: "Positions are still being filled, but slowly" and "Staff added to accommodate demand."

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