ISM reports non-manufacturing activity off to a good start in 2014
Non-manufacturing activity headed in the right direction from December to January, according to the Non-Manufacturing ISM Report on Business released by the Institute of Supply Management (ISM) today.
The NMI, the ISM’s index to measure growth, headed up 1.0 percent to 54.0 in January. A reading above 50 represents growth. ISM said that economic activity in the non-manufacturing sector grew in January for the 48th consecutive month. The January PMI is 0.6 percent below the 12-month average of 54.6.
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