United States Non Manufacturing PMI

Last Release

Oct 31, 2025

Actual

52.4

Units In

Points

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	54.71 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 rose to 52.4 in October 2025 from 50 in September, beating forecasts of 50.8, pointing to the strongest expansion in the services sector since February. Both business activity (54.3 vs 49.9) and new orders (56.2 vs 50.4) rebounded while the continued contraction in employmet (48.2 vs 47.2) shows a lack of confidence in the continued strength of the economy. "There was no indication of widespread layoffs or reductions in force, but the federal government shutdown was mentioned several times as impacting business activity and generating concerns for future layoffs", according to Steve Miller, Chair of the ISM. ALso, the backlog of orders index continued its 3-1/2 year declining trend (40.8 vs 47.3) as companies can more than keep up with new orders to reduce backlogs. Price pressures increased (70 vs 69.4) as companies continue to mention the impact of tariffs on prices paid.