United States Non Manufacturing PMI

Last Release

Mar 31, 2025

Actual

50.8

Units In

Points

53.5

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	54.79 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 fell sharply to 50.8 in March 2025 from 53.5 in February, well below forecasts of 53. The reading pointed to the softest expansion in the services sector since June last year. New orders (50.4 vs 52.2) and inventories (50.3 vs 50.6) slowed and employment contracted sharply (46.2 vs 53.9). Also, supplier deliveries eased (50.6 vs 53.4) and backlogs of orders indicated contraction for the seventh time in the last eight months (47.4 vs 51.7). Meanwhile, production rose faster (55.9 vs 54.4) and price pressures eased (60.9 vs 62.6). " There has been a significant increase this month in the number of respondents reporting cost increases due to tariff activity. Despite an increase in comments on tariff impacts and continuing concerns over potential tariffs and declining governmental spending, there was a close balance in near-term sentiment”, Steve Miller, Chair of the ISM Services Business Survey Committee said.