Tuesday, November 19, 2013
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ISM Non Manufacturing Fell in March
The service sector growth cooled in March, falling to the lowest level since August. The ISM non-manufacturing index fell to 54.4 in March from 56.0 the previous month. Despite the decline, services continue to outperform the manufacturing sector, which declined to 51.3 in March. Any reading over 50 indicated industry expansion.
The details of March’s report declined across the board except for supplier deliveries and backlogs. The employment index dropped 3.9 points to 53.3. Overall business activity edged lower to 56.5 index points, losing 0.4 points from the previous month.
Despite the overall decline in March, the indexes remained above the neutral threshold of 50, signaling an expansion, albeit at a slower rate then the previous month.
A copy of the press release can be found here.
ISM Non Manufacturing Fell in March
The details of March’s report declined across the board except for supplier deliveries and backlogs. The employment index dropped 3.9 points to 53.3. Overall business activity edged lower to 56.5 index points, losing 0.4 points from the previous month.
Despite the overall decline in March, the indexes remained above the neutral threshold of 50, signaling an expansion, albeit at a slower rate then the previous month.
A copy of the press release can be found here.