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Nonmanufacturing index slows, but employment portion up

February 05 2013

Economic activity in the U.S. nonmanufacturing sector grew in January but at a slower pace than December, according to the Institute for Supply Management’s nonmanufacturing index released today. However, the employment portion of the index rose.

The ISM’s manufacturing business activity index slipped in January to a reading of 55.2 from December’s reading of 55.7. However, readings above 50 indicate growth.

Looking at the employment portion of the index, on the other hand, it increased to 57.5 percent in January from a reading of 55.3 in December. Reuters reported the level was the highest since February 2006.

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