According to the latest Non-Manufacturing ISM Report on Business, economic activity in the non-manufacturing sector grew in August for the 92nd consecutive month.
- The NMI registered 55.3 percent, which is 1.4 percentage points higher than the July reading of 53.9 percent.
- This represents continued growth in the non-manufacturing sector at a faster rate.
- The New Orders Index registered 57.1 percent, 2 percentage points higher than the reading of 55.1 percent in July.
- The Employment Index increased 2.6 percentage points in August to 56.2 percent from the July reading of 53.6 percent.
- The Prices Index increased 2.2 percentage points from the July reading of 55.7 percent to 57.9 percent, indicating prices increased in August for the third consecutive month.
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