MinistryWatch Index Remained Flat in July
Eighth consecutive month index is essentially unchanged
ANALYSIS–The MinistryWatch Index was flat throughout July, remaining unchanged from the month before.
The MinistryWatch Index is based on the revenue of 38 large Christian ministries, ministries that represent all of the 21 ministry segments tracked by MinistryWatch.
This month’s lackluster performance adds another month to a now record eight months of flat performance by the Index. The no growth and negative growth of the MinistryWatch Index over the past eight months could suggest concern about the future of the economy.
A recent survey conducted by MinistryWatch of ministry executives found that fundraising has now replaced finding and recruiting staff as their top leadership concern. This concern seems well-founded. A recent survey found that giving by evangelicals is down.
Other studies, especially those by Giving USA, suggest that philanthropic giving correlates closely to the rise and fall in value of the major stock markets. (Note that this relationship is correlative and not causative.)
That theory is being tested this year. The Dow Jones Industrial Average is up about 3.5 percent for the year. The tech-heavy NASDAQ has been volatile. It was flat for the first five months of the year, though at one point in April is was down about 19 percent. A recent rally has year-to-date performance up about 10.2 percent.
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