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US nonmanufacturing index accelerates in May; employment metric edges up

June 05, 2018

Economic activity in the US nonmanufacturing sector accelerated in May, according to the Institute for Supply Management’s nonmanufacturing index released today.

ISM’s nonmanufacturing index rose in May to a reading of 58.6 from April’s reading of 56.8.

Readings above 50 generally indicate improving conditions.

The employment portion of the index edged up in May to 54.1 from April’s reading of 53.6. Eleven industries reported increased employment, and three industries reported decreased employment.

Comments from respondents to the survey on which the index is based include: “Adding employees to meet the greater customer demand” and “Increased business has caused an increase in employment, which overloaded our HR staff. We had to hire contract HR service providers to meet the new personnel demands.”