The ISM Non-Manufacturing Index for April dropped to 41.8% (Briefing.com consensus 38.5%) from 52.5% in March. A number below 50.0% is indicative of contraction.
The April reading was the lowest reading for the index since March 2009.
The New Orders Index slumped to 32.9% from 52.9%. It was the first contraction in orders after 128 consecutive months of expansion.
The Employment Index dropped to 30.0% from 47.0%. All 18 industries reported decreased employment.
The Inventories Index rose to 46.9% from 41.5%.
The Backlog of Orders Index declined to 47.7% from 55.0%. That is the largest one-month drop since September 2007.
The Prices Index jumped to 55.1% from 50.0%.
|Non-Manufacturing ISM index||41.8||52.5||57.3||55.5||54.9|