Business activity in the non-manufacturing sector increased last month, but at a slower rate in September 2006, according to the latest Non-Manufacturing ISM Report On Business.
The report was issued today by Anthony Nieves, chair of the Institute for Supply Management’s Non-Manufacturing Business Survey Committee; and senior vice president, supply management, for Hilton Hotels Corp.
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Non-manufacturing business activity increased for the 42nd consecutive month in September,” Nieves said. “Business Activity increased at a slower rate in September than in August.
“Employment, New Orders, New Export Orders, Supplier Deliveries, Backlog of Orders and Inventory Sentiment increased at a faster rate.
“Ten of 18 non-manufacturing industry sectors report increased activity in September,” he said.
“Members’ comments in September are mixed concerning current business conditions. The overall economy, interest rates and security issues are areas of concern.
“The Prices Index decreased 15.7 percentage points this month to 56.7 percent. The overall indication in September is continued economic growth in the non-manufacturing sector but at a slower pace than in August.”
The 10 industries reporting growth in September were mining, retail trade, educational services, health care and social assistance, utilities, wholesale trade, public administration, professional, scientific and technical services, finance & insurance and management of companies and support services.
The two industries reporting activity the same as last month are: agriculture, forestry, fishing and hunting and information. The six industries with decreased activity were transportation and warehousing, real estate, rental and leasing, construction, arts, entertainment, recreation and accommodation and food services and “other services.”
