ISM Non-Manufacturing Report On Business: March 2013

 |  Includes: XLI
by: Sold At The Top

Today, the Institute for Supply Management released its latest non-manufacturing report on business, indicating that service-related business activity continued to expand in March. Assessments of service-sector related activity pulled back slightly, with the business activity component declining while the overall non-manufacturing index slid to 54.4 from last month's reading of 56.0.

At 56.5 the business activity index declined a slight 0.70% since February, falling 3.25% below the level seen a year earlier. This month, service industry respondents are sounding very positive, with all respondent quotes citing generally improving activity:

  • "The economy and our business appear to be improving." (Management of Companies and Support Services)
  • "Volumes are down slightly, but spending per person is up." (Arts, Entertainment and Recreation)
  • "Economy and all of our business units appear to be on track for positive gains this year. It may be a struggle, but economic indicators and signs of business growth point to increased spending from our customers." (Professional, Scientific and Technical Services)
  • "Local business climate seems more upbeat as the market moves higher." (Public Administration)
  • "Winter weather has affected construction, but the spring building season looks encouraging." (Wholesale Trade)
  • "Sales increased 17% last year; sales continue to rise this quarter." (Retail Trade)
  • "Anticipate a plentiful season, requiring strategic planning with packaging inventories." (Agriculture, Forestry, Fishing and Hunting)