April service sector economy index dips 2.0 points due to concerns about tariffs and inflation

The April NMI® registered 56.8 percent, which is 2 percentage points lower than the March reading of 58.8 percent. There was a slowing in the rate of growth that was mostly attributed to the decline in the Employment and Supplier Deliveries indexes. The respondents have expressed concern regarding the uncertainty about tariffs and the effect on the cost of goods.

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October service sector index reaches highest level since August 2005

The NMI® registered 60.1 percent in October, which is 0.3 percentage point higher than the September reading of 59.8 percent. This is the highest NMI® reading since the index’s debut in 2008. The highest reading among pre-2008 composite index calculations is 61.3 percent in August 2005.

The non-manufacturing sector has reflected the third consecutive month of strong growth. Respondent comments continue to indicate a positive outlook for business conditions, and the economy as we begin the fourth quarter.

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Service sector index rose 1.4 points in July

The NMI® registered 55.3 percent, which is 1.4 percentage points higher than the July reading of 53.9 percent. The non-manufacturing sector has rebounded from the prior month's cooling-off period. The majority of respondents are optimistic about business conditions going forward.

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April service sector index rose 2.3 percentage points to 55.2

The NMI registered 57.5 percent, which is 2.3 percentage points higher than the March reading of 55.2 percent. In April the non-manufacturing sector reflected strong growth after a slowing in the rate from the previous month.

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Service sector economy index rebounded strongly in June

The NMI registered 56.5 percent in June, 3.6 percentage points higher than the May reading of 52.9 percent. Overall, the report reflects a strong rebound from the 'cooling-off' of the previous month for the non-manufacturing sector.

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Service sector economy grew at slower pace in May

The NMI® registered 52.9 percent in May, 2.8 percentage points lower than the April reading of 55.7 percent. Overall, the report reflects a slowing in momentum from the previous months of growth for the non-manufacturing sector.

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Service sector economy index rose to 55.7 percent in April

The NMI® registered 55.7 percent in April, 1.2 percentage points higher than the March reading of 54.5 percent. The majority of the respondents’ comments reflect optimism about the business climate and the direction of the economy.

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NMI® HISTORY
Month	NMI®	Month	NMI®
Apr 2016	55.7	Oct 2015	58.3
Mar 2016	54.5	Sep 2015	56.7
Feb 2016	53.4	Aug 2015	58.3
Jan 2016	53.5	Jul 2015	59.6
Dec 2015	55.8	Jun 2015	56.2
Nov 2015	56.6	May 2015	55.9
Average for 12 months – 56.2 High – 59.6 Low – 53.4