Non-manufacturing activity in December finishes 2014 in a good spot

The Institute for Supply Management reported (ISM) today that even with a slight decline from November non-manufacturing activity in December finished 2014 on steady terrain in its Non-Manufacturing Report on Business.

The index ISM uses to measure non-manufacturing growth—known as the NMI—was 56.2 in December (a reading above 50 represents growth), which was 3.1 percent below November’s 59.3 and 0.1 percent above the 12-month average of 56.3. December was 3.4 percent off of August’s 59.6, which stands as the highest NMI reading since it was added to the report in January 2008. Economic activity in the non-manufacturing sector has grown for the last 59 months, according to ISM.

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