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Business activity in the non-manufacturing sector increased in May 2002, say the nation's purchasing and supply executives
The report was issued today by Ralph G. Kauffman, Ph.D., C.P.M., chair of the Institute for Supply Management™ Non-Manufacturing Business Survey Committee and coordinator of the purchasing and supply management program, University of Houston-Downtown. "In May, non-manufacturing business activity increased at the strongest rate since August 2000. This follows slower rates of growth in March and April," Kauffman said. He added, "This month's 60.1 percent Business Activity Index indicates the fourth consecutive month of significant growth in non-manufacturing business activity. Also in May, the Backlog of Orders Index moved above 50 percent, indicating the first growth in order backlogs since December 2000 and the highest Index since October 2000."
Reports from purchasing and supply executives indicate 13 industry groups grew in May and two groups contracted, with one group indicating no change. Increased business activity in May was reported by 34 percent of members, compared to April's 31 percent. Reduced activity was reported by 11 percent of members compared to 13 percent in April. In May, the remaining 55 percent of members indicated no change in business activity compared to 56 percent in April.
The report was issued today by Ralph G. Kauffman, Ph.D., C.P.M., chair of the Institute for Supply Management™ Non-Manufacturing Business Survey Committee and coordinator of the purchasing and supply management program, University of Houston-Downtown. "In May, non-manufacturing business activity increased at the strongest rate since August 2000. This follows slower rates of growth in March and April," Kauffman said. He added, "This month's 60.1 percent Business Activity Index indicates the fourth consecutive month of significant growth in non-manufacturing business activity. Also in May, the Backlog of Orders Index moved above 50 percent, indicating the first growth in order backlogs since December 2000 and the highest Index since October 2000."
Reports from purchasing and supply executives indicate 13 industry groups grew in May and two groups contracted, with one group indicating no change. Increased business activity in May was reported by 34 percent of members, compared to April's 31 percent. Reduced activity was reported by 11 percent of members compared to 13 percent in April. In May, the remaining 55 percent of members indicated no change in business activity compared to 56 percent in April.