ISM reports solid start to 2015 for non-manufacturing

Non-manufacturing activity began 2015 where 2014 left off: in a pretty good place. That was a key takeaway from the Institute for Supply Management’s January Non-Manufacturing Report on Business.

The index ISM uses to measure non-manufacturing growth—known as the NMI—came in at 56.7 in January, which was 0.2 percent ahead of December and also 0.2 percent ahead of the 12-month average of 56.5. Economic activity in the non-manufacturing sector has grown for the last 60 months, according to ISM.

Three of the report’s four core metrics in January, including the NMI, were up compared to December. Business Activity/Production was up 2.9 percent at 61.5 while still growing at a faster rate for 66 straight months. New orders were up 0.3 percent to 59.5 while also growing for its 66th straight month, and employment dropped 4.1 percent to 51.6 but still showed growth for the 11th straight month.

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