“Davidson” Submits:
The Institute of Supply Management released its Non-Manufacturing Business Activity Index with a reading for Jan 2011 of 64.6%. The complete history of this index is presented in chart form below. I additionally excerpted comments by Anthony Nieves, C.P.M., CFPM, chair of the Institute for Supply Management™ Non-Manufacturing Business Survey Committee, part of the January 2011 table and supplied a link with which to access the press release.
Non-manufacturing purchasing managers represent management of companies and support services, mining; information, transportation and warehousing and retail trade among others. In short non-manufacturing represents “services” which are reported at ~70% of US economic activity.
The current level of activity rivals that of August 2005 and Dec 2004 (see chart) which represented previous levels of vigorous economic activity.
This is just one of multiple reports reflecting economic improvement.
Excerpts:
Anthony Nieves, C.P.M., CFPM, chair of the Institute for Supply Management™ Non-Manufacturing Business Survey Committee. “The NMI (Non-Manufacturing Index) registered 59.4 percent in January, 2.3 percentage points higher than the seasonally adjusted 57.1 percent registered in December (the seasonal adjustment did not change the reading that was originally reported), and indicating continued growth in the non-manufacturing sector. The Non-Manufacturing Business Activity Index increased 1.7 percentage points to 64.6 percent, reflecting growth for the 18th consecutive month and at a faster rate than in December.
