Economic activity in the non-manufacturing sector grew in January for the 25th consecutive month, say the nation's purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business.
According to the NMI, the 12 non-manufacturing industries that reported growth in January based on the NMI composite index listed in order are:
• Real Estate, Rental & Leasing
• Information
• Educational Services
• Transportation & Warehousing
• Accommodation & Food Services
• Construction
• Other Services
• Retail Trade
• Professional, Scientific & Technical Services
• Finance & Insurance
• Health Care & Social Assistance
• Wholesale Trade
The four industries reporting contraction in January are:
• Arts, Entertainment & Recreation
• Mining
• Utilities
• Public Administration
"The NMI registered 56.8 percent in January, 3.8 percentage points higher than the seasonally adjusted 53 percent registered in December, and indicating continued growth at a faster rate in the non-manufacturing sector. The Non-Manufacturing Business Activity Index registered 59.5 percent, which is 3.6 percentage points higher than the seasonally adjusted 55.9 percent reported in December, reflecting growth for the 30th consecutive month,” according to Anthony Nieves, C.P.M., CFPM, chair of the Institute for Supply Management Non-Manufacturing Business Survey Committee.