ISM non manufacturing composite index 56.9 vs 57.1 estimate

ISM non manufacturing composite index for May 2017

The ISM Non manufacturing composite index for May 2017 came in at 56.9 vs estimates of 57.1.

• Last month the index came in at 57.5
• Employment rose to the highest level since July 2015. 57.8 vs 51.4 last month
• New orders 57.7 vs 63.2 last month
• Prices contracted for the 1st time since Feb 2016. Came in below 50.0 at 49.2 vs 57.6 last month.
• Non factory business activity came in at 60.7 vs 62.4 last month

• According to the ISM, 17 non-manufacturing industries reporting growth in May. The only industry reporting contraction in May is Educational Services.

According to Anthony Nieves from the ISM, "Although the non-manufacturing sector's growth rate dipped in May, the sector continues to reflect strength, buoyed by the strong rate of growth in the Employment Index. The majority of respondents' comments continue to indicate optimism about business conditions and the overall economy."