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United States Non Manufacturing PMI
Last Release
Jun 30, 2024
Actual
48.8
Units In
Points
Previous
53.8
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 | 54.84 Points | 1997-2024 | 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 in the US tumbled to 48.8 in June 2024, the sharpest contraction since April 2020. Markets were expecting 52.5 after 53.8 in May. The Business Activity Index also fell, registering 49.6, the first contraction since May 2020. New orders (47.3 vs 54.1) and employment (46.1 vs 47.1) declined. “The decrease in the composite index in June is a result of notably lower business activity, a contraction in new orders for the second time since May 2020 and continued contraction in employment. Survey respondents report that in general, business is flat or lower, and although inflation is easing, some commodities have significantly higher costs. Panelists indicate that slower supplier delivery performance is due primarily to transportation challenges, not increases in demand.”, said Steve Miller, CPSM, CSCP, Chair of the Institute for Supply Management.
United States Non Manufacturing PMI History
Last 12 readings