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Business activity grows
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April 5, 1999: 12:12 p.m. ET
Orders, prices and employment all rise in a survey of non-manufacturers
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NEW YORK (CNNfn) - In another sign of strength in the domestic economy, a broad measure of non-manufacturing business activity rose in March.
The National Association of Purchasing Management said Monday its survey of non-manufacturing business activity climbed to 62.5 percent in March from February's 57 percent and March 1998's 59.5 percent.
In the survey of 370 purchasing executives in 62 industries, several specific areas showed strength. New orders in March rose to 60.5 percent from February's 56.6 percent. The backlog of orders in March gained to 55.5 percent from 51.5 percent. New export orders climbed to 58.5 percent from 47.5 percent. Prices, employment and inventory sentiment also climbed.
Inventory was the only area to drop, falling from 49.5 percent in February to 47.5 percent in March, in a sign of increased demand.
The release of NAPM's non-manufacturing index comes 4 days after the release of group's more closely watched manufacturing survey. 
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