The Institute for Supply Management released their non-manufacturing index (NMI) today. Business Activity Index at 55.1% New Orders Index at 54.2% Employment Index at 44.3% Once again, we see workers being left behind, as it has been in almost every indicator. Any index above 50 means growth. So the non-manufacturing index is showing expansion, but barely.

The NMI (Non-Manufacturing Index) registered 50.9 percent in September, 2.5 percentage points higher than the 48.4 percent registered in August, indicating growth in the non-manufacturing sector after 11 consecutive months of contraction. The Non-Manufacturing Business Activity Index increased 3.8 percentage points to 55.1 percent. This is the second consecutive month this index has reflected growth since September 2008. The New Orders Index increased 4.3 percentage points to 54.2 percent, and the Employment Index increased 0.8 percentage point to 44.3 percent. The Prices Index decreased 14.3 percentage points to 48.8 percent in September, indicating a significant reversal and decrease in prices paid from August. According to the NMI, five non-manufacturing industries reported growth in September. Even with the overall month-over-month growth reflected in the report this month, respondents' comments vary by industry and remain mixed about business conditions and the overall economy.

What makes up this index is most interesting. The number two sector is health care! So, the implications are health care is making increased profits, i.e. expanding.

Also notice imports are increasing, exports decreasing. The Trade Deficit does subtract from U.S. GDP.