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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