Non-manufacturing business activity down in March

The business activity index declined 5.91% since February but remained 0.51% above the level seen a year earlier.

Today, the Institute for Supply Management released their latest Non-Manufacturing Report on Business indicating that service related business activity declined notably in March with the business activity component dropping while the overall non-manufacturing index declined to 56.0 from 57.3 in February.

Skip to next paragraph SoldAtTheTop

Writer, The PaperEconomy Blog

'SoldAtTheTop' is not a pessimist by nature but a true skeptic and realist who prefers solid and sustained evidence of fundamental economic recovery to 'Goldilocks,' 'Green Shoots,' 'Mustard Seeds,' and wholesale speculation.

Recent posts

At 58.9 the business activity index declined 5.91% since February but remained 0.51% above the level seen a year earlier.

This month, service industry respondents are sounding very positive and optimistic for economic activity in 2012:

"2012 continues ahead of forecasted pace through March." (Wholesale Trade)

"February was a great month for auto sales ? much better than expected. Forecasted sales volumes for the year are being revised upward." (Retail Trade)

"Positive year-over-year growth is finally being seen as customers' discretionary spend is up, and overall traffic is increasing as well. Increased investments in marketing promotions and advertising during the past few months have helped improve customer loyalty, evidenced by longer stays and increased frequency of visits." (Arts, Entertainment & Recreation)

"Companies are seeking professional services to continue efficiencies while positioning for growth, when the top line comes back." (Professional, Scientific & Technical Services)

"We are starting to see the private sector building again; the money is starting to flow into construction." (Construction)

"Increasing demand for healthcare services while engaging in a more intense effort to reduce costs universally. [We are doing this] prior to implementation of healthcare reform, which is expected to dramatically reduce revenue by approximately 25 percent." (Health Care & Social Assistance)

The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here.To add or view a comment on a guest blog, please go to the blogger's own site by clicking on paper-money.blogspot.com.

hostess brands nh primary david crowder band annalynne mccord natalie wood van halen numerology