United States Non Manufacturing PMI

Last Release

Oct 31, 2024

Actual

Units In

Points

54.9

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	54.82 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 unexpectedly jumped to 56 in October 2024, the highest since August 2022, from 54.9 in September and beating forecasts of 53.8. The strong gain was mostly driven by a rebound in employment (53 vs 48.1) and slower supplier delivery performance (56.4 vs 52.1), after two months in contraction or ‘faster’ territory. In addition, price pressures eased a bit (58.1 vs 59.4). On the other hand, slower increases were recorded for business activity/production (57.2 vs 59.9), new orders (57.4 vs 59.4) and inventories (57.2 vs 58.1) while backlog of orders (47.7 vs 48.3) shrank more. "Concerns over political uncertainty were again more prevalent than the previous month. Impacts from hurricanes and ports labor turbulence were mentioned frequently, although several panelists mentioned that the longshoremen’s strike had less of an impact than feared due to its short duration”, Steve Miller, Chair of the ISM Services Business Survey Committee said.