Economic Recovery Continues in 2010: Institute for Supply Management
Non-Manufacturing
Non-manufacturing supply management executives report that business revenues for 2009 have decreased over 2008 by 4.5 percent. This is less than the 5.1 percent decrease predicted in April 2009 for all of 2009. This compares to a 0.7 percent increase reported one year ago for 2008 revenues over 2007 revenues. The 22 percent of respondents reporting better business in 2009 than in 2008 estimate an average nominal (before adjusting for inflation) revenue increase of 18.5 percent. This is in contrast to an average nominal decrease of 13.9 percent reported by the 62 percent of respondents who indicate worse business in 2009. The remaining 16 percent have experienced no change in 2009. The five industries reporting increases in revenues in 2009 are: Professional, Scientific & Technical Services; Agriculture, Forestry, Fishing & Hunting; Other Services(b); Retail Trade; and Health Care & Social Assistance.