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US nonmanufacturing activity accelerates in September, employment metric hits record high

October 03, 2018

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

ISM’s nonmanufacturing index rose to a reading of 61.6 in September from a reading of 58.5 in August.

Readings above 50 generally indicate improving conditions.

The employment portion of the index jumped in September to 62.4, up from August’s reading of 56.7 and the highest reading since the inception of the employment index in 1997. Thirteen industries reported increased employment, and two industries — utilities and information — reported decreased employment. 

Comments from respondents to the survey on which the index is based include: “Backfilling of open positions,” and, “business has increased, and [we’re] attempting to fill open positions through the end of the year.”

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