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NMI (Non-Manufacturing Index) at 43.7%; April Non-Manufacturing ISM Report On Business®; Business Activity Index at 45.2%; New Orders Index at 47%; Employment Index at 37%

Dépèche transmise le 5 mai 2009 par Business Wire

NMI (Non-Manufacturing Index) at 43.7%; April Non-Manufacturing ISM Report On Business®; Business Activity Index at 45.2%; New Orders Index at 47%; Employment Index at 37%

NMI (Non-Manufacturing Index) at 43.7%; April Non-Manufacturing ISM Report On Business®; Business Activity Index at 45.2%; New Orders Index at 47%; Employment Index at 37%

TEMPE, Ariz.--(BUSINESS WIRE)--Economic activity in the non-manufacturing sector contracted in April, say the nation’s purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business®.

The report was issued today by Anthony Nieves, C.P.M., CFPM, chair of the Institute for Supply Management™ Non-Manufacturing Business Survey Committee; and senior vice president — supply management for Hilton Hotels Corporation. “The NMI (Non-Manufacturing Index) registered 43.7 percent in April, 2.9 percentage points higher than the 40.8 percent registered in March, indicating contraction in the non-manufacturing sector for the seventh consecutive month, but at a slower rate. The Non-Manufacturing Business Activity Index increased 1.1 percentage points to 45.2 percent. The New Orders Index increased 8.2 percentage points to 47 percent, and the Employment Index increased 4.7 percentage points to 37 percent. The Prices Index increased 0.9 percentage point to 40 percent in April, indicating a slightly slower decrease in prices from March. According to the NMI, seven non-manufacturing industries reported growth in April. Respondents’ comments are mixed and they vary by company and industry about economic conditions.”

INDUSTRY PERFORMANCE (Based on the NMI)

The seven industries reporting growth in April based on the NMI composite index — listed in order — are: Real Estate, Rental & Leasing; Arts, Entertainment & Recreation; Retail Trade; Finance & Insurance; Utilities; Other Services; and Accommodation & Food Services. The 11 industries reporting contraction in April — listed in order — are: Management of Companies & Support Services; Information; Agriculture, Forestry, Fishing & Hunting; Construction; Wholesale Trade; Professional, Scientific & Technical Services; Mining; Transportation & Warehousing; Public Administration; Health Care & Social Assistance; and Educational Services.

WHAT RESPONDENTS ARE SAYING …

  • “Business is still depressed and there is a lack of confidence.” (Professional, Scientific & Technical Services)
  • “Overall there are faint signs of improving business conditions.” (Management of Companies & Support Services)
  • “Continued retraction by our customer base, resulting in much lower revenue than anticipated.” (Information)
  • “A slight seasonal uptick in demand, but far from where it needs to be. The tone is, however, a little more positive.” (Wholesale Trade)
  • “Tight credit markets prevent additional new development projects due to funding.” (Accommodation & Food Services)
  • “Although we are not yet ready to say that the business has completely turned, we are seeing some indications that the worst may be over.” (Real Estate, Rental & Leasing)

ISM NON-MANUFACTURING SURVEY RESULTS AT A GLANCE
COMPARISON OF ISM NON-MANUFACTURING AND ISM MANUFACTURING SURVEYS(a)
APRIL 2009

     
Index Non-Manufacturing Manufacturing

Series
Index
Apr.

 

Series
Index
Mar.

 

Percent
Point
Change

 

Direction

 

Rate
of
Change

 

Trend(b)

(Months)

Series
Index
Apr.

 

Series
Index
Mar.

 

Percent
Point
Change

 
NMI/PMI 43.7 40.8 +2.9 Contracting Slower 7 40.1 36.3 +3.8
Business Activity/

Production

45.2 44.1 +1.1 Contracting Slower 7 40.4 36.4 +4.0
New Orders 47.0 38.8 +8.2 Contracting Slower 7 47.2 41.2 +6.0
Employment 37.0 32.3 +4.7 Contracting Slower 12 34.4 28.1 +6.3
Supplier Deliveries 45.5 48.0 -2.5 Faster Faster 3 44.9 43.6 +1.3
Inventories 43.0 40.0 +3.0 Contracting Slower 8 33.6 32.2 +1.4
Prices 40.0 39.1 +0.9 Decreasing Slower 6 32.0 31.0 +1.0
Backlog of Orders 44.0 41.0 +3.0 Contracting Slower 9 40.5 35.5 +5.0
New Export Orders 48.5 39.0 +9.5 Contracting Slower 6 44.0 39.0 +5.0
Imports 48.5 37.0 +11.5 Contracting Slower 6 42.0 33.0 +9.0
Inventory Sentiment 62.5 60.0 +2.5 Too High Faster 143 N/A N/A N/A
Customers’ Inventories N/A N/A N/A N/A N/A N/A 49.5 54.0 -4.5

(a) Non-Manufacturing ISM Report On Business®data is seasonally adjusted for Business Activity, New Orders, Prices and Employment. Manufacturing ISM Report On Business® data is seasonally adjusted for New Orders, Production, Employment, Supplier Deliveries and Inventories.

(b) Number of months moving in current direction

COMMODITIES REPORTED UP / DOWN IN PRICE, and IN SHORT SUPPLY

Commodities Up in Price

Cheese; and Gasoline (20).

Commodities Down in Price

Beef (8); Carbon Pipe; Chicken; Corrugated Products (3); Fuel Surcharges; Paper; and Stainless Steel.

Commodities in Short Supply

Acetonitrile (4) is the only commodity reported in short supply.

Note: The number of consecutive months the commodity is listed is indicated after each item.

APRIL 2009 NON-MANUFACTURING INDEX SUMMARIES

NMI (Non-Manufacturing Index)

In April, the NMI registered 43.7 percent, indicating contraction in the non-manufacturing sector at a slower rate compared to March’s reading of 40.8 percent. A reading above 50 percent indicates the non-manufacturing sector economy is generally expanding; below 50 percent indicates the non-manufacturing sector is generally contracting.

NMI HISTORY

          Month           NMI                     Month           NMI
 
Apr 2009 43.7 Oct 2008 44.6
Mar 2009 40.8 Sep 2008 50.0
Feb 2009 41.6 Aug 2008 50.4
Jan 2009 42.9 Jul 2008 49.6
Dec 2008 40.1 Jun 2008 48.8
Nov 2008 37.4 May 2008 51.2
Average for 12 months – 45.1

High – 51.2

Low – 37.4

Business Activity

ISM’s Non-Manufacturing Business Activity Index in April registered 45.2 percent, an increase of 1.1 percentage points when compared to the 44.1 percent registered in March. Nine industries reported increased business activity, and 7 industries reported decreased activity for the month of April. Two industries reported no change from March. Comments from respondents include: “Increased sales and prospect activity” and “Government intervention with funding — beginning to thaw credit markets.”

The industries reporting growth of business activity in April — listed in order — are: Real Estate, Rental & Leasing; Finance & Insurance; Arts, Entertainment & Recreation; Retail Trade; Utilities; Other Services; Transportation & Warehousing; Educational Services; and Accommodation & Food Services. The industries reporting decreased business activity in April — listed in order — are: Management of Companies & Support Services; Agriculture, Forestry, Fishing & Hunting; Information; Wholesale Trade; Professional, Scientific & Technical Services; Construction; and Health Care & Social Assistance.

Business Activity           %Higher         %Same         %Lower         Index
 
Apr 2009 26 46 28 45.2
Mar 2009 24 44 32 44.1
Feb 2009 18 42 40 40.2
Jan 2009 19 43 38 44.2

New Orders

ISM’s Non-Manufacturing New Orders Index contracted in April for the seventh consecutive month. The index registered 47 percent, which is an increase of 8.2 percentage points from the 38.8 percent registered in March. Comments from respondents include: “Increase in projects being started”; “Projected higher sales due to promotions”; and “Less demand, business trends down.”

The eight industries reporting growth of new orders in April — listed in order — are: Utilities; Real Estate, Rental & Leasing; Finance & Insurance; Arts, Entertainment & Recreation; Retail Trade; Accommodation & Food Services; Health Care & Social Assistance; and Educational Services. The seven industries reporting contraction of new orders in April — listed in order — are: Management of Companies & Support Services; Mining; Agriculture, Forestry, Fishing & Hunting; Information; Construction; Professional, Scientific & Technical Services; and Wholesale Trade.

New Orders           %Higher         %Same         %Lower         Index
 
Apr 2009 24 54 22 47.0
Mar 2009 18 42 40 38.8
Feb 2009 16 47 37 40.7
Jan 2009 15 47 38 41.6

Employment

Employment activity in the non-manufacturing sector contracted in April for the 15th time in the last 16 months. ISM’s Non-Manufacturing Employment Index for April registered 37 percent. This reflects an increase of 4.7 percentage points when compared to the 32.3 percent registered in March. Four industries reported increased employment, 12 industries reported decreased employment, and two industries reported unchanged employment for the month of April. Comments from respondents include: “Some attrition in employee numbers has taken place”; “Right-sizing to sales level”; and “Hiring freeze in place. Almost impossible to fill open positions.”

The industries reporting an increase in employment in April are: Arts, Entertainment & Recreation; Mining; Real Estate, Rental & Leasing; and Retail Trade. The industries reporting a reduction in employment in April — listed in order — are: Educational Services; Management of Companies & Support Services; Construction; Wholesale Trade; Information; Public Administration; Utilities; Accommodation & Food Services; Health Care & Social Assistance; Finance & Insurance; Professional, Scientific & Technical Services; and Transportation & Warehousing.

Employment           %Higher         %Same         %Lower         Index
 

Apr 2009

10 58 32 37.0
Mar 2009 7 50 43 32.3
Feb 2009 10 52 38 37.3
Jan 2009 6 53 41 34.4

Supplier Deliveries

Supplier deliveries were faster in April, with the index registering 45.5 percent. This is 2.5 percentage points less than the 48 percent reported in March. A reading above 50 percent indicates slower deliveries.

The one industry reporting slowing in supplier deliveries in April is Educational Services. The industries reporting faster supplier deliveries in April — listed in order — are: Mining; Information; Transportation & Warehousing; Management of Companies & Support Services; Utilities; Finance & Insurance; Accommodation & Food Services; Professional, Scientific & Technical Services; Public Administration; and Wholesale Trade.

Supplier Deliveries           %Slower         %Same         %Faster         Index
 
Apr 2009 3 85 12 45.5
Mar 2009 7 82 11 48.0
Feb 2009 8 80 12 48.0
Jan 2009 10 83 7 51.5

Inventories

ISM’s Non-Manufacturing Inventories Index registered 43 percent in April, indicating that inventory levels contracted in April for the eighth consecutive month. Of the total respondents in April, 31 percent indicated they do not have inventories or do not measure them. Comments from members include: “Have instituted inventory controls — keeping purchases to a minimum while reducing levels of pricing at the same time”; “Lowering of inventory due to slowdown in sales”; and “We are buying less.”

The industries reporting an increase in inventories in April are: Mining; Management of Companies & Support Services; and Utilities. The industries reporting decreases in inventories in April — listed in order — are: Educational Services; Wholesale Trade; Transportation & Warehousing; Construction; Accommodation & Food Services; Public Administration; Information; Retail Trade; Health Care & Social Assistance; and Arts, Entertainment & Recreation.

Inventories           %Higher         %Same         %Lower         Index

 

Apr 2009 12 62 26 43.0
Mar 2009 9 62 29 40.0
Feb 2009 9 60 31 39.0
Jan 2009 16 51 33 41.5

Prices

Prices paid by non-manufacturing organizations for purchased materials and services decreased in April for the sixth consecutive month after 65 consecutive months of increases. ISM’s Non-Manufacturing Prices Index for April registered 40 percent, 0.9 percentage point higher than the 39.1 percent reported in March. In April, the percentage of respondents reporting higher prices is 9 percent; the percentage indicating no change in prices paid is 70 percent; and 21 percent of the respondents reported lower prices.

In April, three industries reported an increase in prices paid in the following order: Health Care & Social Assistance; Arts, Entertainment & Recreation; and Construction. The 10 industries reporting prices as decreasing for the month of April — listed in order — are: Mining; Management of Companies & Support Services; Information; Agriculture, Forestry, Fishing & Hunting; Retail Trade; Educational Services; Other Services; Accommodation & Food Services; Finance & Insurance; and Wholesale Trade.

Prices           %Higher         %Same         %Lower         Index
 
Apr 2009 9 70 21 40.0
Mar 2009 12 59 29 39.1
Feb 2009 18 57 25 48.1
Jan 2009 13 55 32 42.5

Backlog of Orders

ISM’s Non-Manufacturing Backlog of Orders Index contracted in April for the ninth consecutive month. The index registered 44 percent, 3 percentage points higher than the 41 percent reported in March. Of the total respondents in April, 43 percent indicated they do not measure backlog of orders.

Three industries reported an increase in order backlogs in April: Utilities; Health Care & Social Assistance; and Professional, Scientific & Technical Services. The industries reporting lower backlog of orders — listed in order — are: Management of Companies & Support Services; Mining; Wholesale Trade; Educational Services; Construction;

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