Updated: 05-Oct-20 10:48 ET
| September ISM Non-Manufacturing Index |
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| Updated: 05-Oct-20 10:48 ET |
Highlights
- The ISM Non-Manufacturing Index for September increased to 57.8% (Briefing.com consensus 55.6%) from 56.9% in August.
- The dividing line between expansion and contraction is 50.0%, so the higher September number reflects faster growth in the services sector than what was seen in August.
- Notably, the September index eclipsed the 57.3% reading registered in February.
Key Factors
- The New Orders Index jumped to 61.5% from 56.8%.
- The Backlog of Orders Index fell to 50.1% from 56.6%.
- The Supplier Deliveries Index dipped to 54.9% from 60.5%.
- The Prices Index slipped to 59.0% from 64.2%.
- The Employment Index increased to 51.8% from 47.9%.
Big Picture
- The key takeaway from the report is that it had all the right undertones to promote recovery views: new orders increased, the backlog of orders decreased, supplier deliveries slowed, prices were up, albeit at a slower pace, and employment levels grew following six months of contraction.
| Category | SEP | AUG | JUL | JUN | MAY |
| Non-Manufacturing ISM index | 57.8 | 56.9 | 58.1 | 57.1 | 45.4 |
| Business Activity | 63.0 | 62.4 | 67.2 | 66.0 | 41.0 |
| New Orders | 61.5 | 56.8 | 67.7 | 61.6 | 41.9 |
| Employment | 51.8 | 47.9 | 42.1 | 43.1 | 31.8 |
| Deliveries (nsa) | 54.9 | 60.5 | 55.2 | 57.5 | 67.0 |
| Inventories (nsa) | 48.8 | 45.8 | 52.0 | 60.7 | 48.0 |
| Exports (nsa) | 52.6 | 55.8 | 49.3 | 58.9 | 41.5 |
| Imports (nsa) | 46.6 | 50.8 | 46.3 | 52.9 | 43.7 |
| Prices Paid | 59.0 | 64.2 | 57.6 | 62.4 | 55.6 |