US: April non-manufacturing ISM at 56.8% vs. 58.8% previous

Economic activity in the non-manufacturing sector grew in April for the 99th consecutive month, say the nation’s purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business.

Key points: 

   •  The NMI registered 56.8 percent, which is 2 percentage points lower than the March reading of 58.8 percent. This represents continued growth in the non-manufacturing sector at a slower rate. 
   •  The Non-Manufacturing Business Activity Index decreased to 59.1 percent, 1.5 percentage points lower than the March reading of 60.6 percent, reflecting growth for the 105th consecutive month, at a slower rate in April.
   •  The New Orders Index registered 60 percent, 0.5 percentage point higher than the reading of 59.5 percent in March. 
   •  The Employment Index decreased 3 percentage points in April to 53.6 percent from the March reading of 56.6 percent. 
   •  The Prices Index increased by 0.3 percentage point from the March reading of 61.5 percent to 61.8 percent, indicating that prices increased in April for the 26th consecutive month.