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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.

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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.

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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] 

 

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SOURCE Institute for Supply Management

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HKGSEO Provides Free Website SEO Analysis and Consulting Services

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HKGSEO hence cautions against web design companies that use their own CMS. Generally speaking, these websites are not SEO friendly. For example, they might have undesirable attributes such as duplicate page titles, dynamic URLs, or category pages that cannot update new content, etc. These attributes are disadvantageous to implementing SEO plans, which ultimately leads to the redesigning of the entire website, resulting in a much higher cost.

 

SSL Website Security Certificate

 

If your website does not have an SSL certificate (HTTPS) installed, it will be marked as an insecure website by the browser, which will adversely affect the credibility and conversion rate. SSL should be installed immediately to protect customer information, especially for e-commerce websites. There are some free SSLs available on the market, such as Let’s Encrypt, with paid premium certificates recommendation by online shops.

 

Mobile Version of The Website

 

The latest personal computer and Internet penetration survey published by the Census and Statistics Department shows that more than 5.97 million people in Hong Kong have mobile phones, and 99.7% of the users access the Internet on smartphones, higher than those connected to computers or other devices. Besides, Google has launched the Mobile-First Indexing mobile version of content priority indexing. If your website does not have a mobile version, the ranking will be poor and a lot of traffic will be lost.

 

Website Loading Speed

 

According to research, more than 68% of viewers will leave a website when it takes more than 3 seconds to open. The main reason for the slow loading is the use of shared hosting or non-local hosting. Switching to local hosting, SSD or CDN can effectively improve the loading speed.

 

Website Content

 

Is the website content of high quality? Does it answer the questions of potential consumers? To build up the content, some corporate websites have piled up keywords, and some have published blog articles regularly. However the content of the articles is sometimes plagiarized from news media. Plagiarism makes search engines recognize the overall website quality as low, which will in turn affect the ranking.

 

Websites and online shops are platforms that promote businesses. An optimized website will reward twice the results with half the effort of both online and offline marketing campaigns combined.

 

Please log onto www.hkgseo.com, fill in the website, email and contact number, and our network promotion experts will reply within one working day and arrange a free SEO analysis and consultation.

 

About HKGSEO

HKGSEO focuses on website SEO services. It is founded and operated by former Google employees. The company is based in Hong Kong and has branches in Shenzhen, Singapore and Australia. It is committed to providing affordable, one-stop digital marketing solutions for small and medium-sized enterprises. Digital marketing solutions include: SEO, SEM, social media promotion and web design, etc.

 

Website (Chinese):www.hkgseo.com

Website (English):www.hkgdigital.com

Email:[email protected]

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Spackman Entertainment Group’s #ALIVE the number one Asian film on Netflix U.S. in 2020

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  • Produced by the Group’s indirect wholly-owned subsidiary, Zip Cinema, #ALIVE is the highest ranking Asian film on Netflix U.S. in 2020
  • Headlined by Yoo Ah-in of Spackman Media Group, and Park Shin-hye, #ALIVE ranks 4th under Netflix’s most-watched international films in the U.S.
  • Following #ALIVE, Zip Cinema’s upcoming film, BROKER, to star Song Kang-ho, Gang Dong-won and Bae Doona and to be directed by Japanese film director, Kore-eda Hirozaku

SINGAPORE – Media OutReach – 6 January 2021  Spackman Entertainment Group Limited (“Spackman Entertainment Group” or the “Company” and together with its subsidiaries, the “Group“), one of Korea’s leading entertainment production groups, wishes to announce that #ALIVE, produced by the Company’s indirect wholly-owned subsidiary, Zip Cinema Co., Ltd. (“Zip Cinema“), achieved the top position as the most-watched Asian film on Netflix in the U.S. for the year 2020. 

 

According to The Wall Street Journal, #ALIVE ranked 4th out of the top 10 most-watched foreign movies on Netflix in the United States in 2020[1], making it the highest ranking among Asian films.

 

Following its theatrical run in Korea in September 2020, #ALIVE  took the first position on the global chart of TOP Movies on Netflix in the World on September 10[2]. #ALIVE was previously ranked #1 in 35 countries around the world based on viewership in Singapore, Thailand, Hong Kong, Taiwan, Japan, Australia, Russia, India, France, the United States, etc., during the same month of its release on Netflix[3]. The film premiered internationally on Netflix on 8 September 2020.

Starring top leading actor Yoo Ah-in of UAA&CO Inc., a subsidiary of the Group’s associated company Spackman Media Group Limited (“Spackman Media Group“), and superstar actress Park Shin-hye, #ALIVE previously crossed the 1 million ticket sales within five days of its theatrical release and maintained its #1 position at the Korean box office for three consecutive weeks. 

In Korea, #ALIVE achieved the top ranking in VOD sales since the first day of its post-theatrical release on 28 July 2020 in Korea[4], taking the #1 position at top IPTV channels including KT’s Olleh TV and Digital Cable TV Home Choice, as of 4 August 2020.

#ALIVE is based on an original scenario by Hollywood writer Matt Taylor, who produced the American documentary series, SMALL BUSINESS REVOLUTION: MAIN STREET.

The film relates the story of isolated survivors of a city under lockdown that gets out of control as a consequence of a sudden spread of an unknown infection. UAA’s Yoo Ah-in of DEFAULT (2018), BURNING (2018) & VETERAN (2015) shall play the role of Joon Woon, a gamer who survived by himself and becomes disconnected from the rest of the world. Park Shin-hye of MEMORIES OF THE ALHAMBRA (2018), THE DOCTORS (2016) & THE HEIRS (2013) takes on the role of Yoo Bin, another survivor who relies on her own survival skills throughout the extremely challenging situation in the city.

The film is distributed by Lotte Entertainment and directed by Jo II Hyung.

For more information on #ALIVE and its official trailer, visit the Group’s website at https://spackmanentertainmentgroup.com. #ALIVE is currently being screened on Netflix at https://www.netflix.com/title/81240831.

Following #ALIVE, Zip Cinema’s next major, with the working title, BROKER, to be headlined by leading Korean actors Song Kang-ho, Gang Dong-won and Bae Doona and directed by celebrated Japanese film director, Kore-eda Hirozaku, is scheduled to commence filming this year.

With BROKER, Zip Cinema is aiming to produce its fourth consecutive commercially successful film, after the release of #ALIVE (2020), CRAZY ROMANCE (2019) and DEFAULT (2018).



[1] The Wall Street Journal, https://www.wsj.com/articles/what-netflixs-lists-of-top-foreign-movies-and-tv-series-say-about-american-taste-11607562001, What Netflix’s Lists of Top Foreign Movies and TV Series Say About American Taste, 9 December 2020

[2] FlixPatrol, https://flixpatrol.com/top10/netflix/world/2020-09-10, TOP Movies on Netflix in the World on September 10, 10 September 2020

About Spackman Entertainment Group Limited

Spackman Entertainment Group Limited (“SEGL” or the “Company“), and together with its subsidiaries, (the “Group“), founded in 2011 by Charles Spackman, is one of Korea’s leading entertainment production groups. SEGL is primarily engaged in the independent development, production, presentation, and financing of theatrical motion pictures in Korea. According to Variety, Korea was the world’s fourth largest box office market in 2019, behind only North America, China and Japan.   

The Group also invests into and produces Korean television dramas. In addition to our content business, we also own equity stakes in entertainment-related companies and film funds that can financially and strategically complement our existing core operations. SEGL is listed on the Catalist of the Singapore Exchange Securities Trading Limited under the ticker 40E.

Production Labels

 

SEGL’s wholly-owned Zip Cinema Co., Ltd. (“Zip Cinema“) is one of the most recognised film production labels in Korea and has originated and produced some of Korea’s most commercially successful theatrical films, consecutively producing 10 profitable movies since 2009 representing an industry leading track record. Recent theatrical releases of Zip Cinema’s motion pictures include some of Korea’s highest grossing and award-winning films such as CRAZY ROMANCE (2019), DEFAULT (2018), MASTER (2016), THE PRIESTS (2015), COLD EYES (2013), and ALL ABOUT MY WIFE (2012). For more information on Zip Cinema, do visit http://zipcine.com  

SEGL also owns Novus Mediacorp Co., Ltd. (“Novus Mediacorp“), an investor, presenter, and/or post-theatrical distributor for a total of 79 films (58 Korean and 21 foreign) including ROSE OF BETRAYAL, THE OUTLAWS and SECRETLY, GREATLY, which was one of the biggest box office hits of 2013 starring Kim Soo-hyun of MY LOVE FROM THE STARS, as well as FRIEND 2: THE GREAT LEGACY. In 2012, Novus Mediacorp was also the post-theatrical rights distributor of ALL ABOUT MY WIFE, a top-grossing romantic comedy produced by Zip Cinema. In 2018, THE OUTLAWS, co-presented by Novus Mediacorp broke the all-time highest Video On Demand (“VOD“) sales records in Korea. For more information on Novus Mediacorp, do visit  http://novusmediacorp.com  

The Company owns a 100% equity interest in Simplex Films Limited (“Simplex Films“) which is an early stage film production firm. Simplex Films has the following films in the pipeline namely, A BOLT FROM THE BLUE, IRREVOCABLE PROMISE and OUR SUPERSTAR K.

The Company owns a 100% equity interest Take Pictures Pte. Ltd. (“Take Pictures“) which has a line-up of several films including STONE SKIPPING, GUARDIAN (working title) and the co-production with Zip Cinema for THE PRIESTS 2.

The Company owns a 100% equity interest in Greenlight Content Limited which is mainly involved in the business of investing into dramas and movies, as well as providing consulting services for the production of Korean content.

The Company owns a 20% equity interest in The Makers Studio Co. Ltd., which plans to produce and release four upcoming films, the first of which will be THE ISLAND OF THE GHOST’S WAIL, a comedy horror film.

Our films are theatrically distributed and released in Korea and overseas markets, as well as for subsequent post-theatrical worldwide release in other forms of media, including online streaming, cable TV, broadcast TV, IPTV, video-on-demand, and home video/DVD, etc. We release all of our motion pictures into wide-theatrical exhibition initially in Korea, and then in overseas and ancillary markets.

Talent Representation

 

The Company holds an effective shareholding interest of 43.88% in Spackman Media Group Limited (“SMGL“). SMGL, a company incorporated in Hong Kong, together with its subsidiaries, is collectively one of the largest entertainment talent agencies in Korea in terms of the number of artists under management, including some of the top names in the Korean entertainment industry. SMGL operates its talent management business through renowned agencies such as MSteam Entertainment Co., Ltd. (Son Ye-jin, Lee Min-jung, Ko Sung-hee), UAA&CO Inc. (Song Hye-kyo, Yoo Ah-in, Park Hyung-sik), Fiftyone K Inc. (So Ji Sub, Ok Taec-yeon), SBD Entertainment Inc. (Son Suk-ku), and Kook Entertainment Co., Ltd. (Kim Sang-kyung, Kim Ji-young). Through these full-service talent agencies in Korea, SMGL represents and guides the professional careers of a leading roster of award-winning actors/actresses in the practice areas of motion pictures, television, commercial endorsements, and branded entertainment. SMGL leverages its unparalleled portfolio of artists as a platform to develop, produce, finance and own the highest quality of entertainment content projects, including theatrical motion pictures, variety shows and TV dramas. This platform also creates and derives opportunities for SMGL to make strategic investments in development stage businesses that can collaborate with SMGL artists. SMGL is an associated company of the Company.

The Company owns a 100% equity interest in Constellation Agency Pte. Ltd. 

(“Constellation Agency“). Constellation Agency, which owns The P Factory Co., Ltd. (“The P Factory“) and Platform Media Group Co., Ltd. (“PMG“), is primarily involved in the business of overseas agency for Korean artists venturing into the overseas market. The P Factory is an innovative marketing solutions provider specializing in event and branded content production. PMG is a talent management agency which represents and manages the careers of major artists in film, television, commercial endorsements and branded entertainment.

Strategic Businesses

 

The Company owns a 100% equity interest in Frame Pictures Co., Ltd. (“Frame Pictures“). Frame Pictures is a leader in the movie/drama equipment leasing business in Korea. Established in 2014, Frame Pictures has worked with over 25 top directors and provided the camera and lighting equipment for some of Korea’s most notable drama and movie projects including ITAEWON CLASS (2020), HOW TO BUY A FRIEND (2020), KIM JI-YOUNG, BORN 1982 (2019), FOUR MEN (2019) and ASADAL CHRONICLES (2019). 

Previously, Frame Pictures was also involved in GIRL COPS (2018), MALMOI (2018), SUITS (2018), MISTRESS (2018), LIFE (2018), LIVE (2018), MONEY FLOWER (2017), SWEET REVENGE (2017), BAD GUYS 2 (2017), THE LEGEND OF THE BLUE SEA (2016) and VETERAN (2015).

We also operate a café-lounge called Upper West, in the Gangnam district of Seoul and own a professional photography studio, noon pictures Co., Ltd.

For more details, do visit http://www.spackmanentertainmentgroup.com/  

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Plus Renewables and 424 Capital Enter into a Merger Agreement for Asset Management Businesses in North America

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HONG KONG SAR – Media OutReach – 12 January 2021 – Plus Renewable Technologies Limited (“Plus Renewable“) today announced that its subsidiary, SP Energy (USA) One LLC (“SP Energy“), the parent company of Radian Generation LLC (“Radian“) has entered into a merger agreement with a subsidiary of 424 Capital (“424“). The business will operate under the name of Radian Generation LLC. This partnership will support the continued growth of Radian’s renewable energy asset management services and RadianLENSTM software offerings and provide capital for expansion opportunities.

 

Radian provides asset management solutions and software to the renewable energy industry.  Radian’s offerings currently support over 18GW of solar and wind facilities with individual project sizes ranging from 30kWp to over 600MWp. Radian’s comprehensive services includes the desktop elements of accounting, contract management, regulatory compliance (including NERC), and performance engineering. The RadianLENSTM asset management software leverages industry-leading cloud computing platforms and focused business processes to enable asset managers to monitor and manage, operations, contracts, finances, and field services for their projects & portfolios.

 

Under the terms of the merger agreement, Radian will be owned 60% by 424 and SP Energy will own the remaining 40%.

 

424 is a private equity and venture capital firm based out of Boston, Massachusetts. 424 has a 20-year track record investing in and fostering growth companies in technology enabled service solutions across different sectors with a recent focus on healthcare and renewable energy and are committed to supporting companies which make a positive impact to the environment or society and consider the investment in Radian consistent with their mission and values. 424’s investment will enable Radian to consolidate its position in North America and further broaden its service offering into new sectors and markets.

 

Plus Renewable and 424 will provide their industry expertise to help grow the business even further with the aim of becoming a global market leader in the third party asset management services while also developing Radian’s flagship renewable energy management software solution RadianLens™ to become the gold standard of asset management platforms.

 

Paul Cheng, CEO of Plus Renewable remarked: “By creating a strong partnership with 424 to bring together our respective expertise, we are expanding on an emerging and increasingly important sector where Radian has already established a dominant position in North America. We sincerely believe in Radian’s future and we are totally confident that with this new partnership under Joe Kastner’s leadership as CEO of Radian, Radian will continue to reach new milestones for the business.”

“We strongly support Radian’s mission and are seeking to do our part to support and enhance the mission, not to change it. The partnership between Plus Renewable, 424 and Radian will accelerate Radian towards the goal of creating the leading, global, best-in-class platform for renewable energy asset management. We are strong believers in the enhanced role renewables need to play in the global energy mix and believe this is one of the most important times to be investing our time and capital in this space. We are certain that together we can make real impact,” said Walter Beinecke, Partner of 424.

 

“We have built a robust platform dedicated to providing best-in-class asset management services and software over the past 8-years and are excited to be operating under this new ownership structure with 424 and Plus Renewable,” said Joe Kastner, CEO and Founder of Radian. “This partnership provides a great environment for strengthening our existing offering while expanding our product and geographic footprint.”

 

About the Companies:

Plus Renewable Technologies Limited is led by an experienced management team with domain expertise in infrastructure, renewable energy, capital raising, mergers and acquisitions, investment and asset management.  The Company owns operating renewable assets in China, Taiwan and the U.S. and continues to evaluate and develop new projects in the United States, the United Kingdom, Italy and other Asian markets, including the Philippines, Malaysia, Vietnam, Myanmar, Taiwan, South Korea, and Sri Lanka. 

424 Capital is a growth capital partner that makes control equity investments in lower middle market companies within B2B Tech-Enabled Services. 424 Capital works in partnership with founders and management teams to accelerate and scale for long-term growth. Focusing primarily on investments in North America, we invest in companies that are profitable, growing, and that align with our values of honesty, integrity and impact.  For more information about 424 Capital, please visit 424capital.com.

Radian Generation is a solar asset management services and software (RadianLENSTM) provider with a strong track record, industry and technology expertise, and a comprehensive approach to solar asset management. Founded in 2013 by a team of renewable industry veterans, Radian optimizes the performance of our customers: infrastructure funds, national utilities, developers, IPPs, and O&M providers, by offering a full range of services and our SAAS platform, RadianLENSTM. This comprehensive asset management offering, enabled with Radian’s industry best practices, spans all project owner needs: contract compliance, financial management, operations, monitoring, and regulatory.  Radian manages or provides services to approximately 18 GW of solar and wind assets across the U.S., Canada, and the Caribbean.  

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