Non-Manufacturing Prices Index for April remained at 59.5 percent. The percentage of members reporting higher prices stayed at 28 percent in April, the proportion indicating no change remained at 63 percent, and the number who noted lower prices held steady at 9 percent. Non-Manufacturing Employment Index for April was 46.7 percent compared to 49.4 percent in March. April's Index was also the lowest value recorded since inception of NAPM's non-manufacturing business survey. Survey responses reflect the change, if any, in the current month compared to the previous month.
Responses represent raw data and are never changed.
The resulting single index number is not seasonally adjusted. Several years of data will need to be developed before that type of non-manufacturing indicator can be developed. Diffusion indexes have the properties of leading indicators and are convenient summary measures showing the prevailing direction of change and the scope of change. Supplier Deliveries is an exception. A Supplier Deliveries index above 50 percent indicates slower deliveries and below 50 percent indicates faster deliveries.