Updated: 05-Dec-22 10:37 ET
| November ISM Non-Manufacturing Index |
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| Updated: 05-Dec-22 10:37 ET |
Highlights
- The ISM Non-Manufacturing Index for November increased to 56.5% (Briefing.com consensus 53.5%) from 54.4% in October. The dividing line between expansion and contraction is 50.0%.
- The November reading marks the 30th straight month of growth for the services sector.
Key Factors
- The New Orders Index slipped to 56.0% from 56.5%.
- The Business Activity/Production Index accelerated to 64.7% from 55.7%.
- The Prices Index dipped to 70.0% from 70.7%.The Employment Index rose to 51.5% from 49.1%.
- The Supplier Deliveries Index fell to 53.8% from 56.2%.
- The Backlog of Orders Index decreased to 51.8% from 52.2%.
Big Picture
- The key takeaway from the report is that business activity for the non-manufacturing sector, which comprises the largest swath of U.S. economic activity, strengthened in November, aiding the view that the Fed will keep rates higher for longer.
| Category | NOV | OCT | SEP | AUG | JUL |
| Non-Manufacturing ISM index | 56.5 | 54.4 | 56.7 | 56.9 | 56.7 |
| Business Activity | 64.7 | 55.7 | 59.1 | 60.9 | 59.9 |
| New Orders | 56.0 | 56.5 | 60.6 | 61.8 | 59.9 |
| Employment | 51.5 | 49.1 | 53.0 | 50.2 | 49.1 |
| Deliveries (nsa) | 53.8 | 56.2 | 53.9 | 54.5 | 57.8 |
| Inventories (nsa) | 47.9 | 47.2 | 44.1 | 46.2 | 45.0 |
| Exports (nsa) | 38.4 | 47.7 | 65.1 | 61.9 | 59.5 |
| Imports (nsa) | 59.5 | 50.4 | 51.3 | 48.2 | 48.0 |
| Prices Paid | 70.0 | 70.7 | 68.7 | 71.5 | 72.3 |