Non-manufacturing shows more growth in March, according to ISM report
Non-manufacturing activity in March was solid, as was the first quarter, according to the Institute for Supply Management’s March Non-Manufacturing Report on Business.
The NMI, the ISM’s index to measure growth, rose 1.5 percent to 53.1 in March. A reading above 50 represents growth. The March PMI is 1.1 percent below the 12-month average of 54.2, and the cumulative average of the PMI for the first quarter is 52.9. The positive March NMI reading marks the 50th consecutive month of growth for the non-manufacturing sector.
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