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MedX Health Corp. Expands North American Clinic Sales

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MedX Health Corp. (MedX or the Company) (TSX-V:MDX), the global leader in teledermatology, announces that it has completed a sales agency agreement with the Ziemer Professional Corporation. Mr. Paul Ziemer, President, has 20 years of experience in medical device sales and medical clinic operations. I have been working with the MedX team to develop a go-to market strategy and I am pleased to announce that the first six clinics will roll-out in the next three weeks with installations across Ontario and Saskatchewan. Preparations are already in place for additional installations in Canada and the USA for December and early 2021, stated Mr. Ziemer.

COVID-19 has almost doubled the wait times in order to see a Dermatologist. MedXs DermSecure„¢ teledermatology platform provides a perfect solution to this problem. I have received tremendous interest from my client base and expect rapid growth in both the USA and Canada, Mr. Ziemer added.

Mr. Ziemers enthusiasm and detailed knowledge of the economic drivers in the clinic market have been invaluable as we begin our roll-out strategy. Mr. Ziemer has a wide network and strong relationships with numerous medical clinics and practitioners. We believe he will develop a solid customer base in a number of key markets for MedX, and we look forward to supporting Mr. Ziemer and his team in their sales and marketing efforts, commented Mr. Mike Druhan, President, Dermatological Products and Services.

About Ziemer Professional Corp.

Ziemer Professional Corporation has been partnering with health care innovators for over 20 years. We have a strong focus on delivering new and innovative medical technologies to medical/athletic clinics throughout North America and internationally. Areas of experience include Diabetic Wound Care, Peripheral Neuropathy, Biomechanical Gait and Posture Analysis, Telemedicine/Remote Patient Monitoring. ZPC provides sales support as well as educational leadership to its partners, patients and clinical customers. Improving patient access to preventative technologies is top of mind with a specific focus on delivering patient care to remote communities including a special relationship with First Nations.

About MedX

MedX, headquartered in Mississauga, Ontario, is a leading medical device and software company focused on skin health with its SIAscopy„¢ on DermSecure„¢ telemedicine platform, utilizing its SIAscopy„¢ technology. SIAscopy„¢ is also imbedded in its products SIAMETRICS„¢, SIMSYS„¢, and MoleMate„¢, which MedX manufactures in its ISO 13485 certified facility. SIAMETRICS„¢, SIMSYS„¢, and MoleMate„¢ include hand-held devices that use patented technology utilizing light and its remittance to view up to 2 mm beneath suspicious moles and lesions in a pain free, non-invasive manner, with its software then creating real-time images for physicians and dermatologists to evaluate all types of moles or lesions within seconds. These products are Health Canada, FDA, TGA and CE cleared for use in Canada, the US, Australia, New Zealand, the European Union, Brazil and Turkey. MedX also designs, manufactures and distributes quality photobiomodulation therapeutic and dental lasers to provide drug-free and non-invasive treatment of tissue damage and pain. www.medxhealth.com

Forward Looking Statements

This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of applicable Canadian securities legislation. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the Company’s limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the Company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the Company’s projections or forward-looking statements. All forward looking statements in this press release are based on information available to the Company as of the date hereof, and the Company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Rob von der Porten

MedX Health Corp.

[email protected]

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Dovly, the Credit Repair Engine, Welcomes Todd Davis, Co-Founder and Former CEO of LifeLock, to Advisory Board

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PHOENIX, Dec. 3, 2020 /PRNewswire/ — Dovly, the credit repair engine that tracks, manages, and fixes your credit, today announced the appointment of Todd Davis, co-founder and former chief executive officer (CEO) of identity protection leader LifeLock, to its board of advisors.

“Todd is one of the most innovative marketers and business leaders in the personal finance industry,” said Nirit Rubenstein, CEO and co-founder of Dovly. “His unique understanding of consumer mindsets and financial technology enabled him to create and scale a transformational business. His insights will help us take Dovly to the next level.”

“Millions of Americans have at least one serious mistake on their credit reports,” Todd Davis, co-founder and former CEO of LifeLock, explained, “yet far too many of those people aren't even aware of it, nor do they understand the impact these mistakes have on credit scores. Dovly is a game changer.”

After launching his career with Dell in the early 1990s, Davis co-founded LifeLock in 2005. Five years later, the company ranked eighth on Inc. Magazine's list of the 500 fastest growing companies in America, and in 2012, the company went public. By 2014, LifeLock had over three million subscribers and 700 employees. Symantec acquired the company in February 2017 for $2.3 billion. Davis now serves as chairman of the board of Kadenwood and Aesthetics Biomedical.

Dovly also welcomed Jacky Chiu, the former vice president of product of LifeLock, to its advisory board. Chiu is the co-founder and chief technology officer of Brightside, a financial technology company that recently secured a $35 million series A funding round led by Andreessen Horowitz.

About Dovly

Dovly is an advanced credit repair engine that tracks, manages, and fixes your credit. Dovly's fully automated technology enables customers to get ahead financially by leveraging credit intelligence to repair credit scores. The company is headquartered in Phoenix, Arizona, and has increased its customer base by 160% this year alone. In June of 2020, Dovly raised a $2.25 million round of seed funding led by NFX, with participation from 1984 Ventures.

Learn more at www.dovly.com.

 

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Qontigo Launches a Global Equity Linked Factor Risk Model

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NEW YORK, Dec. 3, 2020 /PRNewswire/ — Qontigo, an investment intelligence leader and provider of best-of-breed analytics and world-class indices, launched its first Worldwide Equity Linked Factor Risk Model, providing targeted factor exposures through a combination of the Axioma US, Developed Markets ex-US and Emerging Market Equity Factor Risk Models.

Many risk model users may prefer the simplicity of using a single model to evaluate the risks in their portfolios. However, a very broad model may be misaligned with the portfolios and therefore, may miss some of the important nuances that can help risk estimates be more accurate, attribution more intuitive and to drive better performance.

“For example, a multimanager portfolio that uses a global model may only see a net exposure of zero, when in fact, there was a positive exposure in one region, but a negative exposure in another,” explained Melissa R. Brown, Head of Applied Research. “When we looked at Value, we saw this very example illustrated for a manager running a global portfolio. When viewed through the lens of a global model, the manager would have missed the Value exposure evident in the developed markets and the US.”  

The Axioma Worldwide Equity Linked Factor Risk Model leverages a state-of-the-art modeling technique offering a number of benefits for end users including:

  • A balance between a parsimonious and granular factor structure for both portfolio construction and risk decomposition
  • More flexible and cleaner risk forecasting and attribution for global investors with region-specific mandates
  • Ability to understand and manage the risk of out-of-region bets
  • Better alignment across the organization with the ability to monitor risk across the full book while maintaining focus on regional mandates

“The best risk model is always going to be the one that is most closely aligned to your investment process,” said Alessandro Michelini, Head of Portfolio Solutions at Qontigo. “We recently introduced the ability to create linked models in the Risk Model Machine, our tool allowing users to customize their risk models combining their research and factor definitions with the need for a robust production infrastructure. Following on that success, we are now offering this standard off-the-shelf linked model, giving investors and risk managers access to even better granularity, usability and flexibility.”

The Axioma Worldwide Equity Linked Factor Risk Model is available as a flat file and application file format in both short- and medium-term horizons that are updated daily. It can also integrate seamlessly with Axioma portfolio construction, performance analytics and risk management solutions as well as third-party tools.

The estimation universe for the model comprises 46,900 securities with daily historical coverage from 1997 onwards. This latest launch follows the release of the Axioma Developed Markets ex-US Equity Factor Risk Model in September.

About Qontigo

Qontigo is a financial intelligence innovator and a leader in the modernization of investment management, from risk to return. The combination of the group's world-class indices and best-of-breed analytics, with its technological expertise and customer-driven innovation, enables its clients to achieve competitive advantage in a rapidly changing marketplace. Qontigo's global client base includes the world's largest financial products issuers, capital owners and asset managers. Created in 2019 through the combination of Axioma, DAX and STOXX, Qontigo is part of Deutsche Börse Group, headquartered in Eschborn with key locations in New York, Zug and London.

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Services PMI™ at 55.9%; November 2020 Services ISM® Report On Business®

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Business Activity Index at 58%; New Orders Index at 57.2%; Employment Index at 51.5%; Supplier Deliveries Index at 57%

TEMPE, Ariz., Dec. 3, 2020 /PRNewswire/ —  Economic activity in the services sector grew in November for the sixth month in a row, say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®.

The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee: “The Services PMI registered 55.9 percent, 0.7 percentage point lower than the October reading of 56.6 percent. This reading represents a sixth straight month of growth for the services sector, which has expanded for all but two of the last 130 months.

“The Supplier Deliveries Index registered 57 percent, up 0.8 percentage point from October's reading of 56.2 percent. (Supplier Deliveries is the only ISM® Report On Business® index that is inversed; a reading of above 50 percent indicates slower deliveries, which is typical as the economy improves and customer demand increases.)

“The Prices Index figure of 66.1 percent is 2.2 percentage points higher than the October reading of 63.9 percent, indicating that prices increased in November, and at a faster rate. According to the Services PMI, 14 services industries reported growth. The composite index indicated growth for the sixth consecutive month after a two-month contraction in April and May. In November, there continued to be a slight pullback in the rate of growth in the services sector. Respondents' comments are mixed about business conditions and the economy. Restaurants continue to struggle with capacity constraints and logistics. Most companies are cautious as they navigate operations amid the pandemic and the aftermath of the U.S. presidential election,” says Nieves.

INDUSTRY PERFORMANCE
The 14 services industries reporting growth in November — listed in order — are: Transportation & Warehousing; Management of Companies & Support Services; Health Care & Social Assistance; Utilities; Accommodation & Food Services; Construction; Retail Trade; Wholesale Trade; Professional, Scientific & Technical Services; Finance & Insurance; Agriculture, Forestry, Fishing & Hunting; Mining; Public Administration; and Information. The four industries reporting contraction in November are: Arts, Entertainment & Recreation; Other Services; Real Estate, Rental & Leasing; and Educational Services.

WHAT RESPONDENTS ARE SAYING

  • “Conflicting national, regional, and local guidelines/requirements for COVID-19 issues are becoming increasingly difficult to navigate, leading to a lot of just in time (JIT)-type purchases.” (Accommodation & Food Services)
  • “Business is pushing to complete projects due to seasonality in most of our markets. Volume is strong at this point but will gradually slow as temperatures drop in most of the country.” (Construction)
  • “Recent spike in the infection rates of COVID-19 have caused us to pause plans to further reopen our campus. Sourcing for the resumption and expanded use of onsite testing of students and staff along with concerns over possible personal protective equipment [PPE] shortages occupy most staff meetings.” (Educational Services)
  • “Uncertainty related to the U.S. election is resulting in additional cybersecurity needs.” (Finance & Insurance)
  • “Continue to experience difficulty in procuring PPE due to rising COVID-19 numbers.” (Health Care & Social Assistance)
  • “Tough economic conditions. Lost revenues from the COVID-19 crisis are coming back, but not completely.” (Information)
  • “Business activity is inconsistent. Businesses that reopened are closing for a second time, leading to interruptions in the supply chain.” (Management of Companies & Support Services)
  • “COVID-19 has brought some changes to operations, but for the most part, things are progressing as usual.” (Mining)
  • “Availability on PPE and other supplies is getting worse again; [the situation] is especially dire with nitrile gloves.” (Professional, Scientific & Technical Services)
  • “Remote working has continued to impact our ability to obtain standard equipment such as iPads, printers and PCs for our stores and employees, who require these items to operate our approximately 800 retail locations. Most items are on a 30 to 60 day back order from our suppliers.” (Retail Trade)

 

ISM® SERVICES SURVEY RESULTS AT A GLANCE

COMPARISON OF ISM® SERVICES AND ISM® MANUFACTURING SURVEYS

November 2020

Index

 Services PMI

Manufacturing PMI®

Series
Index

Nov

Series
Index

Oct

Percent
Point
Change

Direction

Rate of
Change

Trend**

(Months)

Series
Index

Nov

Series
Index

Oct

Percent
Point
Change

Services PMI

55.9

56.6

-0.7

Growing

Slower

6

57.5

59.3

-1.8

Business Activity/Production

58.0

61.2

-3.2

Growing

Slower

6

60.8

63.0

-2.2

New Orders

57.2

58.8

-1.6

Growing

Slower

6

65.1

67.9

-2.8

Employment

51.5

50.1

+1.4

Growing

Faster

3

48.4

53.2

-4.8

Supplier Deliveries

57.0

56.2

+0.8

Slowing

Faster

18

61.7

60.5

+1.2

Inventories

49.3

53.1

-3.8

Contracting

From Growing

1

51.2

51.9

-0.7

Prices

66.1

63.9

+2.2

Increasing

Faster

8

65.4

65.5

-0.1

Backlog of Orders

50.7

54.4

-3.7

Growing

Slower

6

56.9

55.7

+1.2

New Export Orders

50.4

53.7

-3.3

Growing

Slower

4

57.8

55.7

+2.1

Imports

55.0

52.5

+2.5

Growing

Faster

2

55.1

58.1

-3.0

Inventory Sentiment

49.9

51.1

-1.2

Too Low

From Too High

1

N/A

N/A

N/A

Customers' Inventories

N/A

N/A

N/A

N/A

N/A

N/A

36.3

36.7

-0.4

Overall Economy

Growing

Slower

6

Services Sector

Growing

Slower

6

Services ISM® Report On Business® data is seasonally adjusted for the Business Activity, New Orders, Prices and Employment indexes. Manufacturing ISM® Report On Business® data is seasonally adjusted for New Orders, Production, Employment and Inventories indexes.
**Number of months moving in current direction.

COMMODITIES REPORTED UP/DOWN IN PRICE, AND IN SHORT SUPPLY

Commodities Up in Price
Cheese; Construction Contractors (2); Corn (3); Disinfectant Supplies (3); Electrical Components; Exam Gloves (2); Lumber Products (7); Medical Supplies (10); Nitrile Gloves (3); Personal Protective Equipment (PPE)* (10); PPE — Gloves (2); PPE — Gowns (2); PPE — Masks (4); Pharmaceuticals; Plastic Products (2); PVC Products (3); Soybean Products; and Steel (3).

Commodities Down in Price
Beef; Diesel (2); and Personal Protective Equipment (PPE)* (2).

Commodities in Short Supply
Construction Contractors (2); Construction Subcontractors (2); Disinfectant Supplies; Disinfectant Wipes (7); Exam Gloves (2); Isolation Gowns (2); Labor — Temporary; Medical Supplies (3); N95 Masks (9); Nitrile Gloves (6); Personal Protective Equipment (PPE) (10); PPE — Gloves (8); PPE — Gowns (8); PPE — Masks (9); PVC Products (2); Sanitary Supplies (8); Sterile Surgical Gowns; Swabs; Transformers; Vinyl Gloves (2); and Wipes (6).

Note: The number of consecutive months the commodity is listed is indicated after each item.
*Indicates both up and down in price.

NOVEMBER 2020 SERVICES INDEX SUMMARIES

Services PMI

In November, the Services PMI (formerly the Non-Manufacturing NMI®) registered 55.9 percent, 0.7 percentage point lower than October's figure of 56.6 percent. This reading indicates the services sector grew for the sixth consecutive month after two months of contraction and 122 months of growth before that. A reading above 50 percent indicates the services sector economy is generally expanding; below 50 percent indicates the services sector is generally contracting.

A Services PMI above 48.5 percent, over time, generally indicates an expansion of the overall economy. Therefore, the November Services PMI™ indicates expansion for a sixth straight month following two months of contraction and a preceding period of 128 months of growth. Nieves says, “The past relationship between the Services PMI and the overall economy indicates that the Services PMI for November (55.9 percent) corresponds to a 2.5-percent increase in real gross domestic product (GDP) on an annualized basis.”

SERVICES PMI™ HISTORY

Month

Services PMI

Month

Services PMI

Nov 2020

55.9

May 2020

45.4

Oct 2020

56.6

Apr 2020

41.8

Sep 2020

57.8

Mar 2020

52.5

Aug 2020

56.9

Feb 2020

57.3

Jul 2020

58.1

Jan 2020

55.5

Jun 2020

57.1

Dec 2019

54.9

Average for 12 months – 54.2

High – 58.1

Low – 41.8

Business Activity
ISM®'s Business Activity Index registered 58 percent in November, a decrease of 3.2 percentage points from the October reading of 61.2 percent. This represents growth for the sixth consecutive month. Comments from respondents include: “Holiday retail activity” and “COVID-19, the election and end of year.”

The 14 industries reporting an increase in business activity for the month of November — listed in order — are: Transportation & Warehousing; Management of Companies & Support Services; Health Care & Social Assistance; Utilities; Accommodation & Food Services; Finance & Insurance; Professional, Scientific & Technical Services; Retail Trade; Mining; Construction; Wholesale Trade; Public Administration; Information; and Educational Services. The four industries reporting a decrease are: Arts, Entertainment & Recreation; Real Estate, Rental & Leasing; Other Services; and Agriculture, Forestry, Fishing & Hunting.

Business Activity

%Higher

%Same

%Lower

Index

Nov 2020

27.5

57.0

15.4

58.0

Oct 2020

39.4

45.5

15.1

61.2

Sep 2020

36.5

55.6

7.8

63.0

Aug 2020

36.9

47.7

15.3

62.4

New Orders
ISM®'s New Orders Index registered 57.2 percent, a decrease of 1.6 percentage points from the October reading of 58.8 percent. New orders grew for the sixth consecutive month after two months of contraction and a preceding period of 128 consecutive months of expansion. Comments from respondents include: “Sales for last month exceeded all-time high for the season” and “Year-end demand is high as we approach the end of our fiscal year.”

The 13 industries reporting growth of new orders in November — listed in order — are: Transportation & Warehousing; Management of Companies & Support Services; Mining; Health Care & Social Assistance; Finance & Insurance; Professional, Scientific & Technical Services; Construction; Retail Trade; Utilities; Accommodation & Food Services; Educational Services; Wholesale Trade; and Public Administration. The three industries reporting a decrease in November are: Arts, Entertainment & Recreation; Other Services; and Information.

New Orders

%Higher

%Same

%Lower

Index

Nov 2020

29.6

55.2

15.1

57.2

Oct 2020

32.3

49.8

18.0

58.8

Sep 2020

37.2

50.9

12.0

61.5

Aug 2020

30.6

52.4

17.0

56.8

Employment
Employment activity in the services sector grew in November for the third consecutive month after a six-month period of contraction, which was preceded by 72 consecutive months of growth. ISM®'s Services Employment Index registered 51.5 percent, up 1.4 percentage points from the October reading of 50.1 percent. Comments from respondents include: “Unable to fill vacant positions with qualified applicants” and “Having to overstaff due to high turnover and people being quarantined.”

The seven industries reporting an increase in employment in November — listed in order — are: Transportation & Warehousing; Utilities; Construction; Wholesale Trade; Accommodation & Food Services; Health Care & Social Assistance; and Management of Companies & Support Services. The six industries that reported a reduction in employment in November — listed in order — are: Arts, Entertainment & Recreation; Educational Services; Other Services; Information; Mining; and Public Administration.

Employment

%Higher

%Same

%Lower

Index

Nov 2020

16.0

69.6

14.5

51.5

Oct 2020

19.5

62.4

18.1

50.1

Sep 2020

17.1

68.0

14.9

51.8

Aug 2020

20.6

51.4

27.9

47.9

Supplier Deliveries
The Supplier Deliveries Index registered 57 percent, which is 0.8 percentage point higher than the 56.2 percent reported in October. A reading above 50 percent indicates slower deliveries, while a reading below 50 percent indicates faster deliveries. Comments from respondents include: “Still seeing COVID-19 delays” and “Slowdown of deliveries and increasing spot back orders for certain medical supplies.”

The 14 industries reporting slower deliveries in November — listed in order — are: Agriculture, Forestry, Fishing & Hunting; Transportation & Warehousing; Wholesale Trade; Construction; Management of Companies & Support Services; Retail Trade; Information; Other Services; Accommodation & Food Services; Health Care & Social Assistance; Utilities; Professional, Scientific & Technical Services; Public Administration; and Educational Services. No industry reported faster deliveries in November.

Supplier
Deliveries

%Slower

%Same

%Faster

Index

Nov 2020

16.9

80.3

2.8

57.0

Oct 2020

15.4

81.4

3.1

56.2

Sep 2020

18.1

73.7

8.2

54.9

Aug 2020

24.0

72.9

3.0

60.5

Inventories
The Inventories Index contracted in November after one month of growth. The reading of 49.3 percent was a 3.8-percentage point decrease from the 53.1 percent reported in October. Of the total respondents in November, 36 percent indicated they do not have inventories or do not measure them. Comments from respondents include: “Prepping for future COVID-19 surges” and “Restaurant sales remain flat compared to last month, but much lower year over year, creating a backup of some ingredients — mostly frozen due to much less demand.”

The eight industries reporting an increase in inventories in November — listed in order — are: Agriculture, Forestry, Fishing & Hunting; Health Care & Social Assistance; Finance & Insurance; Utilities; Accommodation & Food Services; Wholesale Trade; Educational Services; and Public Administration. The six industries reporting a decrease in inventories in November — listed in order — are: Arts, Entertainment & Recreation; Other Services; Transportation & Warehousing; Real Estate, Rental & Leasing; Professional, Scientific & Technical Services; and Information.

Inventories

%Higher

%Same

%Lower

Index

Nov 2020

19.6

59.4

21.0

49.3

Oct 2020

22.5

61.2

16.3

53.1

Sep 2020

20.6

56.5

22.9

48.8

Aug 2020

20.4

50.8

28.7

45.8

Prices
Prices paid by service organizations for materials and services increased in November, with the index registering 66.1 percent. This is 2.2 percentage points higher than the 63.9 percent reported in October.

The 15 services industries that reported an increase in prices paid during the month of November — listed in order — are: Agriculture, Forestry, Fishing & Hunting; Real Estate, Rental & Leasing; Transportation & Warehousing; Wholesale Trade; Management of Companies & Support Services; Health Care & Social Assistance; Finance & Insurance; Utilities; Accommodation & Food Services; Mining; Construction; Public Administration; Information; Professional, Scientific & Technical Services; and Educational Services. The only industry that reported a decrease in prices paid for November is Retail Trade.

Prices

%Higher

%Same

%Lower

Index

Nov 2020

32.0

62.2

5.8

66.1

Oct 2020

30.7

63.4

5.9

63.9

Sep 2020

24.1

69.8

6.0

59.0

Aug 2020

31.5

62.8

5.8

64.2

NOTE: Commodities reported as up in price and down in price are listed in the commodities section of this report.

Backlog of Orders
The ISM® Services Backlog of Orders Index grew in November for the sixth consecutive month. The index registered 50.7 percent; 3.7 percentage points lower than the 54.4 percent reported in October. Of the total respondents in November, 35 percent indicated they do not measure backlog of orders.

The eight industries reporting an increase in order backlogs in November — listed in order — are: Accommodation & Food Services; Construction; Transportation & Warehousing; Management of Companies & Support Services; Finance & Insurance; Professional, Scientific & Technical Services; Utilities; and Health Care & Social Assistance. The six industries that reported a decrease in backlogs in November — listed in order — are: Arts, Entertainment & Recreation; Other Services; Educational Services; Real Estate, Rental & Leasing; Agriculture, Forestry, Fishing & Hunting; and Wholesale Trade.

Backlog of
Orders

%Higher

%Same

%Lower

Index

Nov 2020

19.0

63.3

17.6

50.7

Oct 2020

21.3

66.2

12.5

54.4

Sep 2020

14.6

70.9

14.5

50.1

Aug 2020

24.7

63.9

11.4

56.6

New Export Orders
Orders and requests for services and other non-manufacturing activities to be provided outside of the U.S. by domestically based companies grew in November for the fourth consecutive month. The New Export Orders Index registered 50.4 percent in November, which is 3.3 percentage points lower than the 53.7 percent reported in October. Of the total respondents in November, 71 percent indicated they either do not perform, or do not separately measure, orders for work outside of the U.S.

The six industries reporting an increase in new export orders in November — listed in order — are: Retail Trade; Transportation & Warehousing; Professional, Scientific & Technical Services; Finance & Insurance; Wholesale Trade; and Health Care & Social Assistance. The five industries that reported a decrease in exports in November are: Other Services; Real Estate, Rental & Leasing; Accommodation & Food Services; Educational Services; and Construction. Seven industries reported no change in November.

New Export
Orders

%Higher

%Same

%Lower

Index

Nov 2020

15.0

70.8

14.2

50.4

Oct 2020

19.9

67.6

12.5

53.7

Sep 2020

18.1

69.0

12.9

52.6

Aug 2020

23.1

65.3

11.6

55.8

Imports
The Services Imports Index grew, as it registered 55 percent in November, 2.5 percentage points higher than October's figure of 52.5 percent. Sixty-three percent of respondents reported that they do not use, or do not track the use of, imported materials.

The nine industries reporting an increase in imports for the month of November — listed in order — are: Agriculture, Forestry, Fishing & Hunting; Real Estate, Rental & Leasing; Retail Trade; Management of Companies & Support Services; Wholesale Trade; Utilities; Transportation & Warehousing; Construction; and Professional, Scientific & Technical Services. The four industries reporting a decrease in imports in November are: Other Services; Mining; Accommodation & Food Services; and Health Care & Social Assistance.

Imports

%Higher

%Same

%Lower

Index

Nov 2020

17.3

75.3

7.4

55.0

Oct 2020

10.1

84.8

5.1

52.5

Sep 2020

8.7

75.8

15.4

46.6

Aug 2020

10.1

81.4

8.5

50.8

Inventory Sentiment
The ISM® Services Inventory Sentiment Index in November registered 49.9 percent, which is 1.2 percentage points lower than the 51.1 percent reading in October. This is only the second month — the first was March 2020 — in which respondents indicated they believe their inventories are too low since the inception of the Services PMI (formerly the NMI®) in 1997.

The 10 industries reporting sentiment that their inventories were too high in November — listed in order — are: Arts, Entertainment & Recreation; Mining; Other Services; Agriculture, Forestry, Fishing & Hunting; Information; Utilities; Educational Services; Construction; Public Administration; and Health Care & Social Assistance. The five industries reporting a feeling that their inventories were too low in November are: Real Estate, Rental & Leasing; Transportation & Warehousing; Retail Trade; Professional, Scientific & Technical Services; and Wholesale Trade.

Inventory
Sentiment

%Too

High

%About
Right

%Too

Low

Index

Nov 2020

12.3

75.3

12.4

49.9

Oct 2020

14.0

74.2

11.8

51.1

Sep 2020

18.3

74.3

7.4

55.4

Aug 2020

15.2

74.7

10.2

52.5

About This Report
DO NOT CONFUSE THIS NATIONAL REPORT with the various regional purchasing reports released across the country. The national report's information reflects the entire U.S., while the regional reports contain primarily regional data from their local vicinities. Also, the information in the regional reports is not used in calculating the results of the national report. The information compiled in this report is for the month of November 2020.

The data presented herein is obtained from a survey of supply executives in the services sector based on information they have collected within their respective organizations. ISM® makes no representation, other than that stated within this release, regarding the individual company data collection procedures. The data should be compared to all other economic data sources when used in decision-making.

Data and Method of Presentation
The Services ISM® Report On Business® (formerly the Non-Manufacturing ISM® Report On Business®) is based on data compiled from purchasing and supply executives nationwide. Membership of the Services Business Survey Committee (formerly Non-Manufacturing Business Survey Committee) is diversified by NAICS, based on each industry's contribution to gross domestic product (GDP). The Services Business Survey Committee responses are divided into the following NAICS code categories: Agriculture, Forestry, Fishing & Hunting; Mining; Utilities; Construction; Wholesale Trade; Retail Trade; Transportation & Warehousing; Information; Finance & Insurance; Real Estate, Rental & Leasing; Professional, Scientific & Technical Services; Management of Companies & Support Services; Educational Services; Health Care & Social Assistance; Arts, Entertainment & Recreation; Accommodation & Food Services; Public Administration; and Other Services (services such as Equipment & Machinery Repairing; Promoting or Administering Religious Activities; Grantmaking; Advocacy; and Providing Dry-Cleaning & Laundry Services, Personal Care Services, Death Care Services, Pet Care Services, Photofinishing Services, Temporary Parking Services, and Dating Services).

Survey responses reflect the change, if any, in the current month compared to the previous month. For each of the indicators measured (Business Activity, New Orders, Backlog of Orders, New Export Orders, Inventory Change, Inventory Sentiment, Imports, Prices, Employment and Supplier Deliveries), this report shows the percentage reporting each response and the diffusion index. Responses represent raw data and are never changed. Data is seasonally adjusted for Business Activity, New Orders, Prices and Employment. All seasonal adjustment factors are subject annually to relatively minor changes when conditions warrant them. The remaining indexes have not indicated significant seasonality.

The Services PMI is a composite index based on the diffusion indexes for four of the indicators with equal weights: Business Activity (seasonally adjusted), New Orders (seasonally adjusted), Employment (seasonally adjusted) and Supplier Deliveries. Diffusion indexes have the properties of leading indicators and are convenient summary measures showing the prevailing direction of change and the scope of change. An index reading above 50 percent indicates that the services economy is generally expanding; below 50 percent indicates that it is generally declining. Supplier Deliveries is an exception. A Supplier Deliveries Index above 50 percent indicates slower deliveries and below 50 percent indicates faster deliveries.

A Services PMI above 48.5 percent, over time, indicates that the overall economy, or gross domestic product (GDP), is generally expanding; below 48.5 percent, it is generally declining. The distance from 50 percent or 48.5 percent is indicative of the strength of the expansion or decline.

The Services ISM® Report On Business® survey is sent out to Services Business Survey Committee respondents the first part of each month. Respondents are asked to ONLY report on U.S. operations for the current month. ISM® receives survey responses throughout most of any given month, with the majority of respondents generally waiting until late in the month to submit responses to give the most accurate picture of current business activity. ISM® then compiles the report for release on the third business day of the following month.

The industries reporting growth, as indicated in the Services ISM® Report On Business® monthly report, are listed in the order of most growth to least growth. For the industries reporting contraction or decreases, those are listed in the order of the highest level of contraction/decrease to the least level of contraction/decrease.

ISM ROB Content
The Institute for Supply Management® (“ISM”) Report On Business® (Manufacturing, Services and Hospital reports) (“ISM ROB”) contains information, text, files, images, video, sounds, musical works, works of authorship, applications, and any other materials or content (collectively, “Content”) of ISM (“ISM ROB Content”). ISM ROB Content is protected by copyright, trademark, trade secret, and other laws, and as between you and ISM, ISM owns and retains all rights in the ISM ROB Content. ISM hereby grants you a limited, revocable, nonsublicensable license to access and display on your individual device the ISM ROB Content (excluding any software code) solely for your personal, non-commercial use. The ISM ROB Content shall also contain Content of users and other ISM licensors. Except as provided herein or as explicitly allowed in writing by ISM, you shall not copy, download, stream, capture, reproduce, duplicate, archive, upload, modify, translate, publish, broadcast, transmit, retransmit, distribute, perform, display, sell, or otherwise use any ISM ROB Content.

Except as explicitly and expressly permitted by ISM, you are strictly prohibited from creating works or materials (including, but not limited to: tables, charts, data streams, time-series variables, fonts, icons, link buttons, wallpaper, desktop themes, online postcards, montages, mashups and similar videos, greeting cards, and unlicensed merchandise) that derive from or are based on the ISM ROB Content. This prohibition applies regardless of whether the derivative works or materials are sold, bartered, or given away. You shall not either directly or through the use of any device, software, internet site, web-based service, or other means remove, alter, bypass, avoid, interfere with, or circumvent any copyright, trademark, or other proprietary notices marked on the Content or any digital rights management mechanism, device, or other content protection or access control measure associated with the Content including geo-filtering mechanisms. Without prior written authorization from ISM, you shall not build a business utilizing the Content, whether or not for profit.

You shall not create, recreate, distribute, incorporate in other work, or advertise an index of any portion of the Content unless you receive prior written authorization from ISM. Requests for permission to reproduce or distribute ISM ROB Content can be made by contacting in writing at: ISM Research, Institute for Supply Management, 309 W. Elliot Road, Suite 113, Tempe, AZ 85284-1556, or by emailing [email protected]; subject: Content Request.

ISM shall not have any liability, duty, or obligation for or relating to the ISM ROB Content or other information contained herein, any errors, inaccuracies, omissions or delays in providing any ISM ROB Content, or for any actions taken in reliance thereon. In no event shall ISM be liable for any special, incidental, or consequential damages, arising out of the use of the ISM ROB. Report On Business®, Manufacturing PMI®, Services PMI, and Hospital PMI are registered trademarks of Institute for Supply Management®. Institute for Supply Management® and ISM® are registered trademarks of Institute for Supply Management, Inc.

About Institute for Supply Management®
Institute for Supply Management® (ISM®) serves supply management professionals in more than 90 countries. Its 50,000 members around the world manage about US$1 trillion in corporate and government supply chain procurement annually. Founded in 1915 as the first supply management institute in the world, ISM is committed to advancing the practice of supply management to drive value and competitive advantage for its members, contributing to a prosperous and sustainable world. ISM leads the profession through the ISM Report On Business®, its highly regarded certification programs and the ISM Mastery Model®. This report has been issued by the association since 1931, except for a four-year interruption during World War II.

The full text version of the Services ISM® Report On Business® is posted on ISM®'s website at www.ismrob.org on the third business day* of every month after 10:00 a.m. ET.

The next Services ISM® Report On Business® featuring December 2020 data will be released at 10:00 a.m. ET on Thursday, January 7, 2021.

*Unless the New York Stock Exchange is closed.

Contact:   

Kristina Cahill

Report On Business® Analyst

ISM®, ROB/Research Manager

Tempe, Arizona

+1 480.455.5910

Email: [email protected] 

 

Institute for Supply Management logo. (PRNewsFoto/Institute for Supply Management)

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/services-pmi-at-55-9-november-2020-services-ism-report-on-business-301185173.html

SOURCE Institute for Supply Management

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