United States Non Manufacturing PMI

Last Release

Jan 31, 2025

Actual

52.8

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	54.81 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 for the US declined to 52.8 in January 2025 from a downwardly revised 54 in December 2024, and well below forecasts of 54.3. The reading pointed to a slower expansion in the services sector, due to smaller increases in business activity (54.5 vs 58) and new orders (51.3 vs 54.4). Also, inventories were in contraction territory for the third month in a row (47.5 vs 49.4). On the other hand, employment (52.3 vs 51.3) and new export orders (52 vs 50.1) increased faster and price pressures eased (60.4 vs 64.4). "Poor weather conditions were highlighted by many respondents as impacting business levels and production. Like last month, many panelists also mentioned preparations or concerns related to potential U.S. government tariff actions; however, there was little mention of current business impacts as a result”, Steve Miller, Chair of the ISM Services Business Survey Committee said.