Updated: 05-Jun-18 10:22 ET
| May ISM Services |
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| Updated: 05-Jun-18 10:22 ET |
Highlights
- The ISM Non-Manufacturing Index increased to 58.6 in May (Briefing.com consensus 58.0) from 56.8 in April.
- A number above 50.0 denotes expansion; and May is the 100th consecutive month the index has been above 50.0.
Key Factors
- The New Orders Index increased to 60.5 from 60.0
- The Prices Index rose to 64.3 from 61.8, indicating prices increased for the 27th consecutive month
- The Employment Index increased to 54.1 from 53.6
- The Backlog of Orders Index jumped to 60.5 from 52.0
- According to the ISM, the past relationship between the NMI and the overall economy indicates that the NMI for May corresponds to a 3.5% increase in real GDP on an annualized basis
Big Picture
- The key takeaway from the report is that it matched an uptick in the ISM Manufacturing Index for May. The uptick in both will help substantiate the belief that second quarter GDP growth is poised to pick up noticeably from the first quarter.
| Category | MAY | APR | MAR | FEB | JAN |
| Non-Manufacturing ISM index | 58.6 | 56.8 | 58.8 | 59.5 | 59.9 |
| Business Activity | 61.3 | 59.1 | 60.6 | 62.8 | 59.8 |
| New Orders | 60.5 | 60.0 | 59.5 | 64.8 | 62.7 |
| Employment | 54.1 | 53.6 | 56.6 | 55.0 | 61.6 |
| Deliveries (nsa) | 58.5 | 54.5 | 58.5 | 55.5 | 55.5 |
| Inventories (nsa) | 57.5 | 57.0 | 53.5 | 53.5 | 49.0 |
| Exports (nsa) | 57.5 | 61.5 | 58.0 | 59.5 | 58.0 |
| Imports (nsa) | 54.0 | 54.5 | 55.0 | 50.0 | 54.0 |
| Prices Paid | 64.3 | 61.8 | 61.5 | 61.0 | 61.9 |