ISM Non-Manufacturing Composite rose to 56.4 in August, up from 53.7 and beat expectation of 54.0. Business Activity jumped sharply by 8.4 to 61.5. New Orders also rose strongly by 6.2 to 60.3. However, Employment dropped notably by -3.1 to 56.2.
ISM noted: “16 non-manufacturing industries reported growth. The non-manufacturing sector’s rate of growth rebounded after two consecutive months of cooling off. The respondents remain concerned about tariffs and geopolitical uncertainty; however, they are mostly positive about business conditions.”
