ISM non-manufacturing composite rose to 58.5 in August, up from 55.7 and beat expectation of 56.9. Business Activity Index rose 4.2 to 50.7. New orders jumped 3.4 to 60.4. Employment index rose 0.6 to 56.7.
ISM noted in the release that “there was a strong rebound for the non-manufacturing sector in August after growth ‘cooled off’ in July. Logistics, tariffs and employment resources continue to have an impact on many of the respective industries. Overall, the respondents remain positive about business conditions and the economy.”
