Analysis Of New Employment, Manufacturing & Service Economy Data
Published Friday, October 4, 2019 at: 7:00 AM EDT
Friday's release of the Purchasing Managers Index (PMI), which measures activity in the 88% of the economy not in manufacturing, show a decline in September. The non-manufacturing PMI dropped to 52.6 from August's 56.4 and from July's 53.7 reading.From its highest reading in a decade achieved last September, the non-manufacturing sector, also known as the service economy, dropped to a rate in line with its long-term norm. At 52.6, the service economy in September was growing in line with its rate over the past decade since this index's inception in January of 2008, according to data from the Institute...
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