The latest data from the Institute for Supply Management (ISM) shows that the non-manufacturing new orders in the United States experienced a decrease in March 2024. The previous indicator, which was at 56.1 in February 2024, dropped to 54.4 in March 2024, indicating a slight downturn in new orders within the service sector. This change comes as a notable shift from the growth seen in the previous month.
The ISM Non-Manufacturing New Orders index is a key economic indicator that reflects the level of new business orders in non-manufacturing industries such as retail, construction, and services. A drop in this index can suggest a potential slowdown in economic activity within these sectors. Investors and analysts often closely monitor these figures to gauge the overall health of the economy and make more informed decisions regarding investments and financial strategies.
