ISM Non-Manufacturing Slips To 54.4

ISM Non-Manufacturing Slips To 54.4

The NMI metric of the Institute for Supply Management’s Non-Manufacturing (ISM) Report on Business was a reading of 54.4 in September. This is down from the 58.6 reading in August but is still a greater than 50 reading, indicating economic expansion in the services sector, albeit at a slower pace.

ISM Non Manufacturing September

Performance by industry:

As Hedge Funds Dive Into Private Equity, Tiger Global Leads The Way

Screenshot 2021 09 16 15.33.10Assets in private equity and venture capital strategies have seen significant growth in recent years. In comparison, assets in the hedge fund industry have experienced slowing growth rates. Q2 2021 hedge fund letters, conferences and more Over the six years to the end of 2020, hedge fund assets increased at a compound annual growth rate Read More

The 11 non-manufacturing industries reporting growth in September — listed in order — are: Retail Trade; Management of Companies & Support Services; Transportation & Warehousing; Construction; Utilities; Information; Finance & Insurance; Other Services; Wholesale Trade; Professional, Scientific & Technical Services; and Public Administration. The four industries reporting contraction in September are: Arts, Entertainment & Recreation; Educational Services; Health Care & Social Assistance; and Mining.

What the respondents are saying:

  • “Overall business conditions are slowing — small manpower decrease of 5 percent.” (Construction)
  • “Business levels continue to be strong. Shifting from transient to group travelers.” (Accommodation & Food Services)
  • “Increased activity following summer vacations, but several postponements as well. Clients still unsure about the economy and business costs (e.g., healthcare).” (Professional, Scientific & Technical Services)
  • “The federal government’s spending is increasing greatly as agencies execute their final budgets and utilize fiscal year 2013 appropriated funds prior to their expiration on September 30th. This has caused a major increase in procurement activity for goods and services. Budgets are uncertain for fiscal year 2014, so some items requiring funding in future years are not being purchased.” (Public Administration)
  • “Business has leveled off — not much in the way of growth.” (Retail Trade)
  • “Some pick-up in sequential sales growth, but still flat with last year.” (Wholesale Trade)

Where leading U.S. business surveys currently stand:

Leading US Business Surveys


Updated on

No posts to display