PhotoMarch turned out to be another good month for the non-manufacturing sector of the economy as it grew for the 87th consecutive month.

According to the Non-Manufacturing Institute for Supply Management (ISM) Report On Business, the Non-Manufacturing Index (NMI) came in at 55.2%. While that's down 2.4% from the previous month, the NMI remained above 50 -- the dividing line between expansion and contraction.

The Non-Manufacturing Business Activity Index dropped 4.7% to 58.9%, the New Orders Index was off 2.3% to 58.9% and the Employment Index fell 3.6% to 51.6%.

The Prices Index was down 4.2% to 53.5%, showing that prices increase, although at a slower rate for the 12th consecutive month, at a slower rate in March.

Industry by industry

Fifteen non-manufacturing industries reported growth:

  1. Management of Companies & Support Services;
  2. Utilities;
  3. Wholesale Trade;
  4. Mining;
  5. Real Estate, Rental & Leasing;
  6. Arts, Entertainment & Recreation;
  7. Accommodation & Food Services;
  8. Retail Trade;
  9. Health Care & Social Assistance;
  10. Agriculture, Forestry, Fishing & Hunting;
  11. Transportation & Warehousing;
  12. Construction;
  13. Finance & Insurance;
  14. Other Services; and
  15. Public Administration.

The three industries reporting contraction in March were:

  1. Information;
  2. Educational Services; and
  3. Professional, Scientific & Technical Services.

 

 


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