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Non-Manufacturing ISM Rises to 48.4 from 46.4

September 3rd, 2009 Michael McDonough

The composite non-manufacturing ISM index rose to 48.4 from 46.4 in July, compared to a consensus forecast of 48.1.  The last time the index was at or above the break-even point of 50 was September 2008.  But, recent trends imply that the index could move above that point in the coming months.  The employment index rose to 43.5 from 51.5. The standalone business index rose above 50 finishing at 51.3 versus 46.1, a month prior.  the prices paid Index rose to 63.1 from 41.3 in July.  The new orders index came in just below 50 at 49.9.

Non-Manufacturing Manufacturing
Aug-09 Jul-09 Change Aug-09 Jul-09 Change
NMI/PMI 48.4 46.4 2.0 52.9 48.9 4
Business Activity/Production 51.3 46.1 5.2 61.9 57.9 4
New Orders 49.9 48.1 1.8 64.9 55.3 9.6
Employment 43.5 41.5 2.0 46.4 45.6 0.8
Supplier Deliveries 49 50 -1.0 57.1 52 5.1
Inventories 43 47 -4.0 34.4 33.5 0.9
Prices 63.1 41.3 21.8 65 55 10
Backlog of Orders 41 42 -1.0 52.5 50 2.5
New Export Orders 54 47.5 6.5 55.5 50.5 5
Imports 49 45 4.0 49.5 50 -0.5
Inventory Sentiment 67.5 62.5 5.0 N/A N/A N/A
Customers’ Inventories N/A N/A N/A 39 42.5 -3.5
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