PhotoEven though the pace slowed, economic activity in the non-manufacturing sector grew in August for the 79th consecutive month.

According to the latest Non-Manufacturing Institute for Supply Management (ISM) Report On Business, the NMI registered 51.4% last month, down 4.1% from July.

A reading above 50 indicates expansion, while below that suggests contraction.

The New Orders Index dropped 8.9%, to 51.4%; the Employment Index registered 50.7%, off 0.7%; and the Prices Index slipped 0.1% to 51.8%, indicating that prices increased in August for the fifth consecutive month.

How they performed

The 11 non-manufacturing industries reporting growth in August were:

  1. Utilities;
  2. Real Estate, Rental & Leasing;
  3. Accommodation & Food Services;
  4. Finance & Insurance;
  5. Educational Services;
  6. Health Care & Social Assistance;
  7. Public Administration;
  8. Management of Companies & Support Services;
  9. Professional, Scientific & Technical Services;
  10. Information; and
  11. Construction.

The seven industries reporting contraction were:

  1. Other Services;
  2. Mining;
  3. Agriculture, Forestry, Fishing & Hunting;
  4. Transportation & Warehousing;
  5. Wholesale Trade;
  6. Retail Trade; and
  7. Arts, Entertainment & Recreation.

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