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.


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

Non-Manufacturing ISM Cracks Appear: 8 of 18 Industries in Contraction

The non-manufacturing (services) ISM is still growing but prices and new export orders both plunged into contraction. Moreover, 8 out of 18 industries fell into outright contraction.

Tale of Two Indexes: Non-Manufacturing ISM vs Markit PMI

The ISM Non-Manufacturing Index strengthened in October. Markit's Service PMI weakened.

Manufacturing ISM Worst Since 2009 on Severe Contraction of Export Orders

The Manufacturing ISM is in the second month of contraction and the worst since June of 2009.

Manufacturing ISM Contracts Third Month, Production Down Sharper

The manufacturing sector entered its third month of contraction with production falling faster.

Another Recession Warning: ISM Contracts 4th Month

ISM fired another recession warning today as the manufacturing contraction extends another month.

US Manufacturing Recession Begins: ISM Contracts First Time in 3 Years

The manufacturing ISM dipped below the 50 mark signaling contraction. New orders, production, and employment are down.

ISM and Markit PMI On Verge of Contraction: Expect Contraction Next Month

The closely watched ISM and Markit PMI both hover near 50. That is the dividing line between growth and contraction.

Services PMI and Non-Manufacturing ISM Diverge Strongly Again

The soft data divergence between the ISM Non-Manufacturing Report on Business and the Markit Services PMI widened again today. Let’s take a look at each report.

ISM and Markit Manufacturing Reports Skewed by Energy Sector and Airplane Orders?

The divergence between Markit’s US Manufacturing PMI and the ISM’s “Report on Business” narrowed a bit today with both numbers retreating a bit but ISM cooling more.