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NMI at 53.3%; August Non-Manufacturing ISM Report On Business®; Business Activity Index at 55.6%; New Orders Index at 52.8%; Employment Index at 51.6%

Dépèche transmise le 6 septembre 2011 par Business Wire

NMI at 53.3%; August Non-Manufacturing ISM Report On Business®; Business Activity Index at 55.6%; New Orders Index at 52.8%; Employment Index at 51.6%

NMI at 53.3%; August Non-Manufacturing ISM Report On Business®; Business Activity Index at 55.6%; New Orders Index at 52.8%; Employment Index at 51.6%

TEMPE, Ariz.--(BUSINESS WIRE)--Economic activity in the non-manufacturing sector grew in August for the 21st consecutive month, say the nation’s purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business®.

“New business and additional capital expense approvals.”

The report was issued today by Anthony Nieves, C.P.M., CFPM, chair of the Institute for Supply Management™ Non-Manufacturing Business Survey Committee. “The NMI registered 53.3 percent in August, 0.6 percentage point higher than the 52.7 percent registered in July, and indicating continued growth at a slightly faster rate in the non-manufacturing sector. The Non-Manufacturing Business Activity Index decreased 0.5 percentage point to 55.6 percent, reflecting growth for the 25th consecutive month, but at a slower rate than in July. The New Orders Index increased by 1.1 percentage points to 52.8 percent. The Employment Index decreased 0.9 percentage point to 51.6 percent, indicating growth in employment for the 12th consecutive month, but at a slower rate than in July. The Prices Index increased 7.6 percentage points to 64.2 percent, indicating that prices increased at a faster rate in August when compared to July. According to the NMI, 10 non-manufacturing industries reported growth in August. Respondents’ comments remain mixed. There is a degree of uncertainty concerning business conditions for the balance of the year.”

INDUSTRY PERFORMANCE (Based on the NMI)

The 10 non-manufacturing industries reporting growth in August based on the NMI composite index — listed in order — are: Mining; Information; Retail Trade; Wholesale Trade; Transportation & Warehousing; Accommodation & Food Services; Agriculture, Forestry, Fishing & Hunting; Utilities; Public Administration; and Professional, Scientific & Technical Services. The five industries reporting contraction in August are: Educational Services; Arts, Entertainment & Recreation; Management of Companies & Support Services; Health Care & Social Assistance; and Finance & Insurance.

WHAT RESPONDENTS ARE SAYING …

  • “Overall prices paid are increasing, while sales are still slightly behind projections.” (Public Administration)
  • “This month we have seen a downward trend in sales activities due to weather and economic conditions.” (Construction)
  • “Customer traffic is trending lower, but spending per person continues to increase. Labor cost savings realized through attrition, as fewer replacements are hired. The outlook for the remainder of 2011 is cautiously optimistic, with increased investment in marketing. ‘Sticky prices’ are keeping operating expenses elevated even as commodity supply eases.” (Arts, Entertainment & Recreation)
  • “We had a good first half. Starting to see inflation in many of our input costs. Consumer demand is flat.” (Agriculture, Forestry, Fishing & Hunting)
  • “Business is holding, but looking weaker toward fourth quarter.” (Professional, Scientific & Technical Services)
  • “Business climate uncertainty is increasing.” (Management of Companies & Support Services)

ISM NON-MANUFACTURING SURVEY RESULTS AT A GLANCE
COMPARISON OF ISM NON-MANUFACTURING AND ISM MANUFACTURING SURVEYS(a)
AUGUST 2011

       
Index Non-Manufacturing Manufacturing

Series
Index
Aug

 

Series
Index
Jul

 

Percent
Point
Change

 

Direction

 

Rate of
Change

Trend(b)
(Months)

Series
Index
Aug

 

Series
Index
Jul

 

Percent
Point
Change

 
NMI/PMI 53.3 52.7 +0.6 Growing Faster 21 50.6 50.9 -0.3
Business Activity/

Production

55.6 56.1 -0.5 Growing Slower 25 48.6 52.3 -3.7
New Orders 52.8 51.7 +1.1 Growing Faster 25 49.6 49.2 +0.4
Employment 51.6 52.5 -0.9 Growing Slower 12 51.8 53.5 -1.7
Supplier Deliveries 53.0 50.5 +2.5 Slowing Faster 17 50.6 50.4 +0.2
Inventories 53.5 56.5 -3.0 Growing Slower 7 52.3 49.3 +3.0
Prices 64.2 56.6 +7.6 Increasing Faster 25 55.5 59.0 -3.5
Backlog of Orders 47.5 44.0 +3.5 Contracting Slower 3 46.0 45.0 +1.0
New Export Orders 56.5 49.0 +7.5 Growing From Contracting 1 50.5 54.0 -3.5
Imports 53.5 47.5 +6.0 Growing From Contracting 1 55.5 53.5 +2.0
Inventory Sentiment 56.0 59.5 -3.5 Too High Slower 171 N/A N/A N/A
Customers’ Inventories N/A N/A N/A N/A N/A N/A 46.5 44.0 +2.5

(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

Abrasives; Airfares(c) (9); Aluminum Based Products; Automobile Starters; Carbon Steel Plate; Computer and Peripherals; Copper Based Products; Cotton(c); D-Limonene; #1 Diesel Fuel(c); #2 Diesel Fuel(c) (14); Food and Beverage; Freight Charges; Fuel (20); Gasoline(c) (11); Gloves; Healthcare Related; Labor; Latex Gloves; Petroleum Products (8); Plastic Resins; Rental Equipment; Repair Parts; Resin Products; Soy Oil; 3/4-Ton Pickup Trucks (4X4); and Transmissions/Heavy Duty Vehicles.

Commodities Down in Price

Airfares(c); Cotton(c); #1 Diesel Fuel(c); #2 Diesel Fuel(c); and Gasoline(c) (3).

Commodities in Short Supply

Helium is the only commodity reported in short supply.

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

(c) Reported as both up and down in price.

AUGUST 2011 NON-MANUFACTURING INDEX SUMMARIES

NMI

In August, the NMI registered 53.3 percent, indicating continued growth in the non-manufacturing sector for the 21st consecutive month. 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
 
Aug 2011 53.3 Feb 2011 59.7
Jul 2011 52.7 Jan 2011 59.4
Jun 2011 53.3 Dec 2010 57.1
May 2011 54.6 Nov 2010 56.0
Apr 2011 52.8 Oct 2010 54.6
Mar 2011 57.3 Sep 2010 53.9

Average for 12 months – 55.4
High – 59.7
Low – 52.7

Business Activity

ISM’s Non-Manufacturing Business Activity Index in August registered 55.6 percent, a decrease of 0.5 percentage point when compared to the 56.1 percent registered in July. Eight industries reported increased business activity, and five industries reported decreased activity for the month of August. Comments from respondents include: “Consumers are pulling back on worries of the economy and possible job layoffs” and “New business and additional capital expense approvals.”

The industries reporting growth of business activity in August — listed in order — are: Mining; Accommodation & Food Services; Information; Utilities; Finance & Insurance; Transportation & Warehousing; Wholesale Trade; and Public Administration. The five industries reporting decreased business activity in August are: Arts, Entertainment & Recreation; Educational Services; Construction; Health Care & Social Assistance; and Retail Trade.

Business Activity           %Higher         %Same         %Lower         Index
 
Aug 2011 27 54 19 55.6
Jul 2011 30 50 20 56.1
Jun 2011 33 50 17 53.4
May 2011 29 57 14 53.6

New Orders

ISM’s Non-Manufacturing New Orders Index grew in August for the 25th consecutive month. The index registered 52.8 percent, an increase of 1.1 percentage points from the 51.7 percent reported in July. Comments from respondents include: “More work coming online” and “Increasing capital project expenditures.”

The six industries reporting growth of new orders in August — listed in order — are: Accommodation & Food Services; Mining; Transportation & Warehousing; Professional, Scientific & Technical Services; Information; and Wholesale Trade. The six industries reporting contraction of new orders in August — listed in order — are: Educational Services; Health Care & Social Assistance; Finance & Insurance; Public Administration; Retail Trade; and Construction. Six industries reported no change in new orders in August compared to July.

New Orders           %Higher         %Same         %Lower         Index
 
Aug 2011 27 50 23 52.8
Jul 2011 24 55 21 51.7
Jun 2011 28 56 16 53.6
May 2011 32 54 14 56.8

Employment

Employment activity in the non-manufacturing sector grew in August, as ISM’s Non-Manufacturing Employment Index registered 51.6 percent. This reflects a decrease of 0.9 percentage point when compared to the 52.5 percent registered in July. Six industries reported increased employment, nine industries reported decreased employment, and three industries reported unchanged employment compared to July. Comments from respondents include “Adding staff to keep up with increased customer demand” and “Still understaffed even as business improves.”

The industries reporting an increase in employment in August — listed in order — are: Mining; Retail Trade; Agriculture, Forestry, Fishing & Hunting; Information; Transportation & Warehousing; and Wholesale Trade. The industries reporting a reduction in employment in August — listed in order — are: Arts, Entertainment & Recreation; Educational Services; Management of Companies & Support Services; Accommodation & Food Services; Other Services; Finance & Insurance; Health Care & Social Assistance; Professional, Scientific & Technical Services; and Public Administration.

Employment           %Higher       %Same         %Lower         Index
 
Aug 2011 16 69 15 51.6
Jul 2011 27 58 15 52.5
Jun 2011 27 61 12 54.1
May 2011 28 63 9 54.0

Supplier Deliveries

The Supplier Deliveries Index registered 53 percent in August, 2.5 percentage points higher than the 50.5 percent registered in July, indicating that supplier deliveries continued to slow in August. A reading above 50 percent indicates slower deliveries.

The 10 industries reporting slower deliveries in August — listed in order — are: Utilities; Arts, Entertainment & Recreation; Other Services; Retail Trade; Wholesale Trade; Mining; Information; Public Administration; Construction; and Health Care & Social Assistance. The three industries reporting faster supplier deliveries in August are: Educational Services; Transportation & Warehousing; and Finance & Insurance. Five industries reported no change in supplier deliveries in August compared to July.

Supplier Deliveries           %Slower         %Same         %Faster         Index
 
Aug 2011 10 86 4 53.0
Jul 2011 7 87 6 50.5
Jun 2011 9 86 5 52.0
May 2011 14 80 6 54.0

Inventories

ISM’s Non-Manufacturing Inventories Index registered 53.5 percent in August, 3 percentage points lower than the 56.5 percent reading that was reported in July. Of the total respondents in August, 27 percent indicated they do not have inventories or do not measure them. Comments from respondents include: “Keeping higher levels of critical items on hand” and “Focusing on inventory reduction metrics as we approach fiscal year-end.”

The six industries reporting an increase in inventories in August — listed in order — are: Utilities; Mining; Transportation & Warehousing; Accommodation & Food Services; Professional, Scientific & Technical Services; and Construction. The seven industries reporting decreases in inventories in August — listed in order — are: Arts, Entertainment & Recreation; Health Care & Social Assistance; Finance & Insurance; Information; Retail Trade; Public Administration; and Management of Companies & Support Services.

Inventories           %Higher         %Same         %Lower         Index
 
Aug 2011 21 65 14 53.5
Jul 2011 24 65 11 56.5
Jun 2011 23 61 16 53.5
May 2011 26 58 16 55.0

Prices

Prices paid by non-manufacturing organizations for purchased materials and services increased substantially in August. ISM’s Non-Manufacturing Prices Index for August registered 64.2 percent, 7.6 percentage points higher than the 56.6 percent reported in July. In August, the percentage of respondents reporting higher prices is 28 percent, the percentage indicating no change in prices paid is 64 percent, and 8 percent of the respondents reported lower prices.

Fifteen non-manufacturing industries reported an increase in prices paid, in the following order: Agriculture, Forestry, Fishing & Hunting; Real Estate, Rental & Leasing; Arts, Entertainment & Recreation; Wholesale Trade; Other Services; Accommodation & Food Services; Finance & Insurance; Construction; Retail Trade; Educational Services; Professional, Scientific & Technical Services; Mining; Health Care & Social Assistance; Public Administration; and Transportation & Warehousing. The two industries reporting a decrease in prices paid are: Management of Companies & Support Services; and Information.

Prices           %Higher         %Same         %Lower         Index
 
Aug 2011 28 64 8 64.2
Jul 2011 30 61 9 56.6
Jun 2011 35 58 7 60.9
May 2011 53 42 5 69.6

Backlog of Orders

ISM’s Non-Manufacturing Backlog of Orders Index contracted in August for the third consecutive month. The index registered 47.5 percent, 3.5 percentage points higher than the 44 percent reported in July. Of the total respondents in August, 39 percent indicated they do not measure backlog of orders.

The three industries reporting an increase in order backlogs in August are: Wholesale Trade; Professional, Scientific & Technical Services; and Mining. The eight industries reporting lower backlog of orders in August — listed in order — are: Information; Accommodation & Food Services; Management of Companies & Support Services; Utilities; Construction; Finance & Insurance; Health Care & Social Assistance; and Retail Trade. Six industries reported no change in order backlogs for the month of August compared to July.

Backlog of Orders           %Higher         %Same         %Lower         Index
 
Aug 2011 14 67 19 47.5
Jul 2011 6 76 18 44.0
Jun 2011 12 73 15 48.5
May 2011 18 74

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