America’s manufacturing sector fell deeper into recession territory in May, extending a multi-month slump as experts warn that the U.S. economy faces “clear challenges.” The Institute for Supply Management (ISM) said in a report Monday that its manufacturing purchasing managers index dropped to 46.0 last month, the lowest reading since May 2020 and the eighth…
US Manufacturing Falls Deeper Into Recession as Economy Faces ‘Clear Challenges’
US Service Sector Growth Solid in September; Price Pressures Easing: ISM Survey
WASHINGTON—The U.S. services industry slowed modestly in September, while employment surged and a measure of prices paid by businesses for inputs fell to more than a 1–1/2-year low, suggesting underlying strength in the economy despite rising interest rates. The Institute for Supply Management (ISM) said on Wednesday its non-manufacturing PMI dipped to a reading on…
US Service Sector Slows Further in February: ISM Survey
WASHINGTON—A measure of U.S. services industry activity dropped to a one-year low in February and employment contracted, suggesting that a slowdown in economic growth at the end of 2021 persisted beyond the disruption from the winter wave of COVID-19 cases. The Institute for Supply Management said on Thursday its non-manufacturing activity index fell to 56.5…
US Service Sector Slows in January; Input Prices Remain Elevated: ISM Survey
WASHINGTON—A measure of U.S. services industry activity dropped to an 11-month low in January as a resurgence in COVID-19 infections hurt demand at high contact businesses and kept workers at home. The Institute for Supply Management said on Thursday its non-manufacturing activity index fell to 59.9 last month, the lowest reading since February 2021, from…
US Service Sector Index Hits Record High in October; Shortages Worsening: ISM Survey
November 3, 2021
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WASHINGTON—A measure of U.S. services industry activity surged to a record high in October likely as declining COVID-19 cases boosted demand, but businesses remained burdened by snarled supply chains and the resulting exorbitant prices. The Institute for Supply Management said on Wednesday its non-manufacturing activity index vaulted to a reading of 66.7 last month. That…
Relentless Shortages, High Prices Hamper US Manufacturing
November 1, 2021
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WASHINGTON—U.S. manufacturing activity slowed in October, with all industries reporting record-long lead times for raw materials, indicating that stretched supply chains continued to constrain economic activity early in the fourth quarter. The Institute for Supply Management (ISM) survey on Monday also hinted at some moderation in demand amid surging prices, with a measure of new…
US Service Sector Activity Inches Up in September; Shortages Persist: ISM Survey
WASHINGTON—U.S. services industry activity nudged up in September, but growth is being restrained by a persistent shortage of inputs and the resulting high prices as the pandemic drags on. The Institute for Supply Management said on Tuesday its non-manufacturing activity index edged up to a reading of 61.9 last month from 61.7 in August. A…
US Manufacturing Sector Picks up in May, Work Backlogs Rising: ISM
WASHINGTON—U.S. manufacturing activity picked up in May as pent-up demand amid a reopening economy boosted orders, but unfinished work piled up because of shortages of raw materials and labor. The Institute for Supply Management (ISM) said on Tuesday its index of national factory activity increased to a reading of 61.2 last month from 60.7 in…
US Manufacturing Expanded in February at Fastest Pace 3 Years
WASHINGTON—U.S. manufacturing expanded in February at the fastest pace three years with the arrival of a surge in new orders. The Institute for Supply Management reported Monday that its gauge of manufacturing activity rose to a reading of 60.8 percent last month, 2.1 percentage-points above the January level of 58.7 percent. It was the strongest…
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