The December 2019 Non-Manufacturing ISM® Report On Business® shows the NMI® at 55%, up for the 119th month.
11 Sectors Expanding
Retail Trade; Arts, Entertainment & Recreation; Management of Companies & Support Services; Health Care & Social Assistance; Utilities; Accommodation & Food Services; Information; Transportation & Warehousing; Professional, Scientific & Technical Services; Other Services; and Finance & Insurance.
Six Sectors Contracting
Educational Services; Real Estate, Rental & Leasing; Wholesale Trade; Public Administration; Mining; and Construction.
Services Mixed Bag
At a minimum, the Real Estate and Rental & Leasing sectors are more important than art, recreation, and support services.
Manufacturing
For a discussion of manufacturing, please see Manufacturing ISM Down 5th Month to Lowest Since June 2009
The services-manufacturing divergence will not last forever.
Mike “Mish” Shedlock
