ISM Non-Manufacturing Index
The ISM Non-Manufacturing Index (NMI) is an economic indicator that measures the monthly change in the level of business activity in the non-manufacturing sector of the United States economy. The index is based on surveys of purchasing managers in the non-manufacturing sector, which includes services, construction, retail, and wholesale. The index is published by the Institute for Supply Management (ISM) and is released on the first business day of each month.
History of the ISM Non-Manufacturing Index
The ISM Non-Manufacturing Index was first published in 1997, and is based on the same methodology as the ISM Manufacturing Index. The index is based on surveys of purchasing managers in the non-manufacturing sector, which includes services, construction, retail, and wholesale. The index is released on the first business day of each month and is used to measure the health of the non-manufacturing sector of the economy.
The index is composed of five components: new orders, business activity, employment, supplier deliveries, and inventories. Each component is given a weighting, and the index is calculated by taking the weighted average of the five components. The index is then compared to the previous month’s index to determine the change in the level of business activity in the non-manufacturing sector.
Table of Comparisons
| Month | Index |
|---|---|
| January | 54.7 |
| February | 55.3 |
| March | 56.7 |
| April | 57.5 |
Summary
The ISM Non-Manufacturing Index is an economic indicator that measures the monthly change in the level of business activity in the non-manufacturing sector of the United States economy. The index is based on surveys of purchasing managers in the non-manufacturing sector, which includes services, construction, retail, and wholesale. The index is composed of five components: new orders, business activity, employment, supplier deliveries, and inventories. The index is released on the first business day of each month and is used to measure the health of the non-manufacturing sector of the economy.
For more information about the ISM Non-Manufacturing Index, please visit the Institute for Supply Management website at https://www.ism.ws/.
See Also
- ISM Manufacturing Index
- GDP
- Consumer Price Index
- Employment Cost Index
- Producer Price Index
- Retail Sales
- Durable Goods Orders
- Housing Starts
- Consumer Confidence Index
- Business Inventories
