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Non-Manufacturing Index

Definition:

The primary index released in Non-Manufacturing ISM Report on Business by the Institute for Supply Management on monthly basis. The index is seasonally adjusted and measures business activity in the US service economy. Service sector (non-manufacturing) accounts for approximately 80% of US economy. A reading above 50% indicates expansion of services sector; below 50% indicates the sector's contraction.

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Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

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