/PRNewswire/ Economic activity in the services sector grew in May for the 12th month in a row, say the nation s purchasing and supply executives in the.
®.
The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management
® (ISM
®) Services Business Survey Committee: The Services PMI
® registered an all-time high of 63.7 percent, 8.4 percentage points higher than the February reading of 55.3 percent. The previous high was in October 2018, when the Services PMI
® registered 60.9 percent. The March reading indicates the 10th straight month of growth for the services sector, which has expanded for all but two of the last 134 months.
Nieves continues, For further historical context, the Services PMI
® debuted as the Non-Manufacturing NMI
® in 2008, although subindex data was collected for years in advance. In August 1997, the four subindexes Business Activity, New Orders, Employment and Supplier Deliveries that make up the Services PMI
The Biggest Concern Is Stagflation - Factory Orders Tumble As Services Surveys Signal Soaring Inflation zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.
®.
The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management
® (ISM
®) Services Business Survey Committee: The Services PMI
® registered 55.3 percent, 3.4 percentage points lower than the January reading of 58.7 percent. This reading indicates the ninth straight month of growth for the services sector, which has expanded for all but two of the last 133 months. The Supplier Deliveries Index registered 60.8 percent, up 3 percentage points from January s reading of 57.8 percent. (Supplier Deliveries is the only ISM
®
Report On Business
® index that is inversed; a reading of above 50 percent indicates slower deliveries, which is typical as the economy improves and customer demand increases.)
Services PMI® at 55 3%; February 2021 Services ISM® Report On Business® prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.