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United States Non Manufacturing PMI

Last Release
Apr 30, 2024
Actual
49.4
Units In
Points
Previous
51.4
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
54.86 Points1997-2024Institute 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 in the US dropped sharply to 49.4 in April of 2024 from 51.4 in the earlier month, reflecting the first contraction in services sector activity since December of 2022, and surprising market expectations of 52. It was only the second decline in activity since the pandemic-driven crash in the second quarter of 2020, aligned with an unexpected contraction for manufacturing, to indicate that higher borrowing costs from the Fed may be having a larger impact on business conditions. New orders rose at a slower pace (52.2 vs 54.4 in March) and output was softened considerably (50.9 vs 57.4), driving firms to shed jobs at a faster pace (45.9 vs 48.5) to mark a third period of lower employment. In the meantime, prices accelerated sharply (59.2 vs 53.4) amid higher costs of chemicals, metals, fuels, and food, to underscore the broad-based inflationary pressures in the US economy.

United States Non Manufacturing PMI History

Last 12 readings

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