Updated: 03-Feb-21 10:22 ET

January ISM Non-Manufacturing Index

Updated: 03-Feb-21 10:22 ET

Highlights

• The ISM Non-Manufacturing Index rose to 58.7% in January (Briefing.com consensus 57.0%) from an upwardly revised 57.7% (from 57.2%) in December. The dividing line between expansion and contraction is 50.0%.
• The January reading is the highest since February 2019 and reflects a pickup in the pace of expansion from December.

Key Factors

• The New Orders Index increased to 61.8% from 58.6%.
• The Production Index slipped to 59.9% from 60.5%.
• The Employment Index jumped to 55.2% from 48.7%.
• The Prices Index dipped to 64.2% from 64.4%.

Big Picture

• The key takeaway from the report is the recognition that the pace of activity in the services sector accelerated in January despite the surge in coronavirus cases, the political tumult, and shutdown measures aimed at curbing the spread of the coronavirus.

Category	JAN	DEC	NOV	OCT	SEP
Non-Manufacturing ISM index	58.7	57.7	55.9	56.6	57.8
Business Activity	59.9	60.5	58.0	61.2	63.0
New Orders	61.8	58.6	57.2	58.8	61.5
Employment	55.2	48.7	51.5	50.1	51.8
Deliveries (nsa)	57.8	62.8	57.0	56.2	54.9
Inventories (nsa)	49.2	58.2	49.3	53.1	48.8
Exports (nsa)	47.0	57.3	50.4	53.7	52.6
Imports (nsa)	53.5	51.8	55.0	52.5	46.6
Prices Paid	64.2	64.4	66.1	63.9	59.0