-US Apr NAPM non-mfg business activity index 47.1 vs Mar's 50.3
--US Apr NAPM non-mfg employment index 46.7 vs Mar's 49.4
--US Apr NAPM non-mfg new orders index 45.9 vs Mar's 52.2
--US Apr NAPM non-mfg price index 59.5 unch vs Mar

New York, May 3 (BridgeNews) - The National Association of Purchasing Management's index of non-manufacturing business activity fell to 47.1 in April from 50.3 in March, the NAPM reported Wednesday.
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The monthly report, which is a counterpart to NAPM's widely watched monthly index of manufacturing activity, also said the employment index fell to 46.7 from 49.4. The contraction marked the second of its kind since the survey began in 1997, NAPM said.
The inventory sentiment index fell to 64.0 from 69.0 in March, while the inventory change index also fell to 45.5 from 49.0.
The prices index remained unchanged at 59.5 in April from the previous month and the new orders index stood at 45.9 in April from 52.2 in March. The survey showed overall slowing of activity in the non-manufacturing sector in April, said Ralph Kauffman, chair of the NAPM's non-manufacturing business survey committee, in a release.
"Overall in April, non-manufacturing industries ended their long-term growth trend with both business activity and the volume of new orders contracting," he said.
A number above 50 is considered a sign of expansion in the non- manufacturing economy. A number below that level is seen as indicating a slowing in the non-manufacturing economy.
The purchasing managers' report is a survey of more than 370 purchasing and supply managers from over 60 different sectors representing industries including agriculture, forestry and fisheries, mining, construction, transportation, communications, electric, gas and sanitary services, wholesale trade, retail trade, finance, insurance and real estate, services and public administration.
NAPM's manufacturing index is closely followed by financial markets and Federal Reserve Chairman Alan Greenspan because it provides early indications of developments in the manufacturing sector of the economy. The NAPM non-manufacturing index also may receive considerable attention in financial markets in the future because of the growing importance of the service sector in the economy.
Below is a list of all the indexes for April and March:

April March
Business Activity 47.1 50.3
New Orders 45.9 52.2
Backlog of Orders 44.0 47.5
New Export Orders 55.5 49.5
Inventory Change 45.5 49.0
Inventory Sentiment 64.0 69.0
Imports 49.3 48.1
Prices 59.5 59.5
Employment 46.7 49.4
Supplier Deliveries 51.0 50.5