United States Non Manufacturing PMI

Last Release

May 31, 2025

Actual

49.9

Units In

Points

51.6

Frequency

Monthly

Next Release

N/A

Time to Release

N/A

Highest	Lowest	Average	Date Range	Source
69.1 Nov 2021	37.8 Nov 2008	54.77 Points	1997-2025	Institute for Supply Management

The Non-Manufacturing ISM Report On Business® is based on data compiled from purchasing and supply executives nationwide. 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. An index reading above 50 percent indicates that the non-manufacturing economy in that index is generally expanding; below 50 percent indicates that it is generally declining. Orders to the service producers make up about 90 percent of the US economy.

Latest Updates

The ISM Services PMI declined to 49.9 in May 2025 from 51.6 in April and well below market expectations of 52. The reading signalled a modest contraction in the US services sector, marking the first decline in activity since June of the previous year, amid growing tariffs uncertainty. Production stalled (50 vs 53.7) and new orders (46.4 vs 52.3) and inventories (49.7 vs 53.4) contracted and backlogs of orders shrink faster (43.4 vs 48). Also, price pressures intensified to the highest since November 2022 (68.7 vs 65.1), likely impacted by tariffs. Meanwhile, supplier deliveries (52.5 vs 51.3) slowed and employment rebounded (50.7 vs 49). "Respondents continued to report difficulty in forecasting and planning due to longer-term tariff uncertainty and frequently cited efforts to delay or minimize ordering until impacts become clearer”, Steve Miller, Chair of the Institute for Supply Management Services Business Survey Committee said.