Today, the Institute for Supply Management released their latest Non-Manufacturing Report on Business indicating that service related business activity slowed in December with the overall non-manufacturing index falling to 53 from last months reading of 53.9.
At 55.2 the business activity index also decreased slightly since last month and declining 9.21% below the level seen a year earlier.
This month, service industry respondents are sounding a bit mixed with respondents citing uncertainty over healthcare legislation and steadily improving conditions:
"Hiring activity seems to remain steady at mid- to senior-level management positions. However, it is uncertain what impact the Affordable Healthcare Act will have on hiring and full-time status in 2014 as more companies are re-evaluating their healthcare benefits strategies for all positions." (Management of Companies & Support Services)
"Business is steady. We are at year-end and the holidays, so it's a little quiet. Expect things to pick up after the first [of the year]." (Construction)
"Early, severe winter weather has had a major impact on business. Both customers and employees were unable to reach the workplace." (Arts, Entertainment & Recreation)
"Steady, with no significant shifts in demand or supply." (Finance & Insurance)
"Overall, we are still seeing the pickup in business which began in the 3rd quarter." (Wholesale Trade)
"General business conditions have improved." (Information)