The ISM Services PMI in the US fell to 51.4 in March 2024 from 52.6 in February and below forecasts of 52.7. The reading pointed to the weakest growth in the services sector in three months, as new orders rose less (54.4 vs 56.1), inventories fell again (45.6 vs 47.1) and supplier deliveries were faster (45.4 vs 48.9). Also, employment continued to contract (48.5 vs 48) amid a combination of difficulties in backfilling positions and/or controlling labor expenses. On the other hand, business activity/production (57.4 vs 57.2) and new export orders (52.7 vs 51.6) increased at a faster pace and price pressures eased (53.4 vs 58.6) to the lowest since March 2020, but respondents indicated that even with some prices stabilizing, inflation is still a concern. source: Institute for Supply Management

Non Manufacturing PMI in the United States decreased to 51.40 points in March from 52.60 points in February of 2024. Non Manufacturing PMI in the United States averaged 54.88 points from 1997 until 2024, reaching an all time high of 67.60 points in November of 2021 and a record low of 37.80 points in November of 2008. This page provides the latest reported value for - United States ISM Non Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States ISM Services PMI - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.

Non Manufacturing PMI in the United States decreased to 51.40 points in March from 52.60 points in February of 2024. Non Manufacturing PMI in the United States is expected to be 51.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.


Components Last Previous Unit Reference
ISM Services Business Activity 57.40 57.20 points Mar 2024
ISM Services Employment 48.50 48.00 points Mar 2024
ISM Services New Orders 54.40 56.10 points Mar 2024
ISM Services Prices 53.40 58.60 points Mar 2024

Related Last Previous Unit Reference
ISM Manufacturing PMI 50.30 47.80 points Mar 2024
Chicago PMI 41.40 44.00 points Mar 2024
Dallas Fed Services Index -5.50 -3.90 points Mar 2024
ISM Services PMI 51.40 52.60 points Mar 2024
S&P Global Services PMI 51.70 52.30 points Mar 2024

United States ISM Services PMI
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.
Actual Previous Highest Lowest Dates Unit Frequency
51.40 52.60 67.60 37.80 1997 - 2024 points Monthly
SA

News Stream
ISM Services PMI Down to 3-Month Low
The ISM Services PMI in the US fell to 51.4 in March 2024 from 52.6 in February and below forecasts of 52.7. The reading pointed to the weakest growth in the services sector in three months, as new orders rose less (54.4 vs 56.1), inventories fell again (45.6 vs 47.1) and supplier deliveries were faster (45.4 vs 48.9). Also, employment continued to contract (48.5 vs 48) amid a combination of difficulties in backfilling positions and/or controlling labor expenses. On the other hand, business activity/production (57.4 vs 57.2) and new export orders (52.7 vs 51.6) increased at a faster pace and price pressures eased (53.4 vs 58.6) to the lowest since March 2020, but respondents indicated that even with some prices stabilizing, inflation is still a concern.
2024-04-03
ISM Services PMI Below Forecasts
The ISM Services PMI fell to 52.6 in February 2024 from a four-month high of 53.4 in January and below forecasts of 53. The reading pointed to a slightly slower growth in the services sector amid faster supplier deliveries (48.9 vs 52.4) and the employment contraction (48 vs 50.5). Also, inventories shrank more (47.1 vs 49.1) and backlog of orders slowed (50.3 vs 51.4). On the other hand, business activity/production (57.2 vs 55.8) and new orders (56.1 vs 55) rose at a faster pace and price pressures eased (58.6 vs 64). Meanwhile, the majority of service providers are mostly positive about business conditions but remain concerned about inflation, employment and ongoing geopolitical conflicts.
2024-03-05
US ISM Services PMI Tops Estimates
The ISM Services PMI for the US jumped to 53.4 in January 2024 from 50.5 in December, beating forecasts of 52. The reading pointed to the strongest growth in the services sector in four months, led by new orders (55 vs 52.8), employment (50.5 vs 43.8) and supplier deliveries (52.4 vs 49.5). Meanwhile, backlogs of orders rebounded (51.4 vs 49.4) while business activity growth steadied (55.8 vs 55.8) and price pressures intensified (64 vs 56.7). Finally, services firms "are optimistic about the economy due to the potential impact of interest rate cuts; however, they are cautious due to inflation, associated cost pressures and ongoing geopolitical conflicts”, Anthony Nieves, Chair of the ISM Services Business Survey Committee said.
2024-02-05