Non-Manufacturing Business Activity Slows In February

Jan. 13, 2005
By John S. McClenahen Like the manufacturing sector of the U.S. economy, the non-manufacturing sector continued to expand in February but at a slower pace than in January. The Institute for Supply Management's (ISM) index of business activity for ...
ByJohn S. McClenahen Like the manufacturing sector of the U.S. economy, the non-manufacturing sector continued to expand in February but at a slower pace than in January. The Institute for Supply Management's (ISM) index of business activity for non-manufacturing firms was 53.9% last month, down sixth-tenths of a percentage point from January's 54.5%. "Although the non-manufacturing sector grew more slowly overall in February on a seasonally adjusted basis, purchasing and supply executives report that 10 industry groups grew in February, while only three contracted, and three others reported no change from January," ISM emphasizes. Indeed, with a 53.9% business activity index figure in February, non-manufacturing looks to be a bit stronger than manufacturing, which posted a 50.5% ISM index figure in February. On both indexes, 50% is the dividing line between expansion and contraction.

Popular Sponsored Recommendations

2022 Year in Review: Ransomware Targeting Manufacturers Worldwide

June 28, 2023
Did you know that ransomware attacks on industrial infrastructure organizations nearly doubled in 2022?

Are You Positioned To Tackle Supply Chain Risk?

Sept. 20, 2023
Supply chain disruption is here to stay, but you can keep ahead of potential issues — and identify new opportunities — by regularly assessing your suppliers. Download our supplier...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Powering Up Productivity: The Transformative Power of AP Automation in Manufacturing

Oct. 25, 2023
Discover how AP Automation is revolutionizing the manufacturing industry, driving efficiency, cost savings, and security. In today's world, automation is the key to staying competitive...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!