ISM Non-Manufacturing Shows Expansion in October
From the Institute for Supply Management: October 2009 Non-Manufacturing ISM Report On Business®
Economic activity in the non-manufacturing sector expanded in October for the second consecutive month, say the nation’s purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business®.… “The NMI (Non-Manufacturing Index) registered 50.6 percent in October, 0.3 percentage point lower than the 50.9 percent registered in September, indicating growth in the non-manufacturing sector for the second consecutive month, but at a slightly slower rate.
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Employment activity in the non-manufacturing sector contracted in October for the 21st time in the last 22 months. ISM’s Non-Manufacturing Employment Index for October registered 41.1 percent. This reflects a decrease of 3.2 percentage points when compared to the 44.3 percent registered in September.
emphasis added
According to this survey, the service sector expanded in October, but at a slower rate than in September. Employment contracted at as faster rate than in September – the opposite of the manufacturing sector.
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ISM Non-Manufacturing Shows Expansion in October
