The non-manufacturing, or service-providing, sector of the economy grew for the 83rd consecutive month in December.
According to the latest Non-Manufacturing Institute for Supply Management's report on business, the non-manufacturing index registered 57.2% in December, the same as November.
Fifty percent is the dividing line between expansion and contraction.
The Non-Manufacturing Business Activity Index inched down 0.3% to 61.4%, but still was a reflection of growth for the 89th consecutive month. The New Orders Index rose 4.6% to 61.6%, while the Employment Index registered 53.8%, a loss of 4.4% from November.
The Prices Index was up 0.7% to 57.0%, indicating prices increased in December for the ninth consecutive month at a slightly faster rate.
How they did
The following 12 non-manufacturing industries reported growth in December:
- Retail Trade;
- Finance & Insurance;
- Arts, Entertainment & Recreation;
- Other Services;
- Health Care & Social Assistance;
- Professional, Scientific & Technical Services;
- Transportation & Warehousing; and
- Accommodation & Food Services.
Three industries reported contraction:
- Public Administration;
- Wholesale Trade; and
- Agriculture, Forestry, Fishing & Hunting.