Hospital PMI at 51.9%; October 2024 Hospital ISM Report On Business | PR Newswire [Video]

, /PRNewswire/ — Economic activity in the hospital subsector grew in October for the 14th consecutive month after contracting twice in the previous four-month period, with 35 consecutive months of growth prior to that, say the nation’s hospital supply executives in the latest Hospital ISM^® Report On Business^®.

The report was issued today by Nancy LeMaster, MBA, Chair of the Institute for Supply Management^® (ISM^®) Hospital Business Survey Committee: “The Hospital PMI^® registered 51.9 percent in October, a 3.1-percentage point decrease from the September reading of 55 percent, indicating a 14th consecutive month of growth. October’s Hospital PMI^® reading is the lowest since a contraction in August 2023(47.5 percent). The Business Activity Index moved into contraction territory after expanding for 13 straight months. The New Orders Index returned to contraction after two consecutive months of expansion, and the Employment Index also moved back into contraction territory in October after expanding for five …