United States Non Manufacturing PMI

Last Release

Aug 31, 2023

Actual

54.5

Units In

Points

52.7

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	54.94 Points	1997-2023	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 unexpectedly jumped to 54.5 in August 2023, pointing to the strongest growth in the services sector in six months, compared to 52.7 in July and forecasts of 52.5. Faster increases were seen in business activity (57.3 vs 57.1), new orders (57.5 vs 55), employment (54.7 vs 50.7) and inventories (57.7 vs 50.4). Also, supplier deliveries increased (48.5 vs 48.1). In the last six months, the average reading of 47.7 percent reflects the fastest supplier delivery performance since June 2009. At the same time, price pressures intensified in August (58.9 vs 56.8) while backlog of orders contracted (41.8 vs 52.1). "Sentiment among Business Survey Committee respondents varies by industry; however, the majority of panelists are positive about business and economic conditions”, Anthony Nieves, Chair of the ISM Services Business Survey Committee said.