Construction, Service-Sector Economic Report at All-time High forconstructionpros.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forconstructionpros.com Daily Mail and Mail on Sunday newspapers.
March 2021 ISM and Markit Services Surveys Show Improvement
The ISM significantly improved and remained in expansion whilst the Markit PMI improved and advanced further into expansion.
Analyst Opinion of the ISM and Markit Services Survey
With the economy reopening, it comes as no surprise that both of these indices improved.
From Econoday:
Upturns in output and new orders accelerate to strong rates
Price gauges hit highest on record amid supply chain disruptions
Business optimism improves since February
March PMITM data indicated a substantial increase in business activity across the U.S. service sector, and one that was the steepest for almost seven years. Contributing to the marked upturn in output was the fastest expansion in new business for six years, reflecting strengthening client demand. Firms also registered a renewed rise in new export orders. Meanwhile, rates of input cost and output charge inflation reached fresh record peaks, as firms sought to pass on steep ris
®.
The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management
® (ISM
®) Services Business Survey Committee: The Services PMI
® registered an all-time high of 63.7 percent, 8.4 percentage points higher than the February reading of 55.3 percent. The previous high was in October 2018, when the Services PMI
® registered 60.9 percent. The March reading indicates the 10th straight month of growth for the services sector, which has expanded for all but two of the last 134 months.
Nieves continues, For further historical context, the Services PMI
® debuted as the Non-Manufacturing NMI
® in 2008, although subindex data was collected for years in advance. In August 1997, the four subindexes Business Activity, New Orders, Employment and Supplier Deliveries that make up the Services PMI
Calculated Risk: ISM® Services Index increased to all-time high of 63 7% in March calculatedriskblog.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from calculatedriskblog.com Daily Mail and Mail on Sunday newspapers.
ISM®
Construction was the fifth-highest growing sector in the report.
“Residential new home construction demand continues to outpace supply.
Construction companies reported the highest price increases for materials and services in March of all 18 services industries.
“All-time high” was the buzz phrase in a monthly economic report meeting for industries like construction, rental, warehousing and others. Anthony Nieves, chair of the Institute of Supply Management (ISM
®) Services Business Survey Committee, delivered the March services sector report on April 5. The PMI
®, or the Purchasing Managers’ Index, is a set of economic indicators based off surveys of private-sector companies.
“The Services PMI