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U.S. Services PMI at 56.7%

Christian Fernsby |
Economic activity in the services sector grew in September for the 28th month in a row with the Services PMI registering 56.7 percent say the nation's purchasing and supply executives in the latest Services ISM Report On Business.

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The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management (ISM) Services Business Survey Committee: "In September, the Services PMI registered 56.7 percent, 0.2 percentage point lower than August's reading of 56.9 percent.

The Business Activity Index registered 59.1 percent, a decrease of 1.8 percentage points compared to the reading of 60.9 percent in August. The New Orders Index figure of 60.6 percent is 1.2 percentage points lower than the August reading of 61.8 percent.

"The Supplier Deliveries Index registered 53.9 percent, 0.6 percentage point lower than the 54.5 percent reported in August.

Supplier Deliveries is the only ISM Report On Business index that is inversed; a reading of above 50 percent indicates slower deliveries, which is typical as the economy improves and customer demand increases."

The 15 services industries reporting growth in September — listed in order — are: Mining; Other Services; Educational Services; Agriculture, Forestry, Fishing & Hunting; Public Administration; Retail Trade; Wholesale Trade; Information; Utilities; Professional, Scientific & Technical Services; Health Care & Social Assistance; Finance & Insurance; Real Estate, Rental & Leasing; Construction; and Management of Companies & Support Services.

The three industries reporting a decrease in the month of September are: Accommodation & Food Services; Arts, Entertainment & Recreation; and Transportation & Warehousing.


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