The ISM Services PMI in the US edged up to 54.1 in July 2026 from 54 in June, slightly below forecasts of 54.5, while continuing to point to expansion in the services sector. Business activity (59.1 vs 55.4), new orders (57.2 vs 55.1) and inventories (51.4 vs 51.2) increased faster but employment returned to contraction territory after only one month in expansion (47.4 vs 51.2). In addition, price pressures increased (70.3 vs 67.7), with petroleum-related products and plastics again reported as commodities up in price, although the number of commodities reported as down in price increased to six, up from three the previous month. Backlog of orders (50.9 vs 54.9) and supplier deliveries (52.8 vs 54.4) slowed. “Tariff impacts and the Middle East conflict continued to be mentioned by respondents, but much less frequently than in prior reports. The World Cup was again cited in the comments regarding increased business activity and new orders”, according to Steve Miller, Chair of the ISM. source: Institute for Supply Management

Non Manufacturing PMI in the United States increased to 54.10 points in July from 54 points in June of 2026. Non Manufacturing PMI in the United States averaged 54.69 points from 1997 until 2026, 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.

Non Manufacturing PMI in the United States increased to 54.10 points in July from 54 points in June of 2026. Non Manufacturing PMI in the United States is expected to be 54.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States ISM Services PMI is projected to trend around 53.00 points in 2027, according to our econometric models.




Components Last Previous Unit Reference
ISM Services Business Activity 59.10 55.40 points Jul 2026
ISM Services Employment 47.40 51.20 points Jul 2026
ISM Services New Orders 57.20 55.10 points Jul 2026
ISM Services Prices 70.30 67.70 points Jul 2026

Related Last Previous Unit Reference
ISM Manufacturing PMI 55.60 53.30 points Jul 2026
Dallas Fed Services Index 6.60 2.90 points Jul 2026
NY Fed Services Activity Index 8.70 -10.10 points Jul 2026


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.

News Stream
US Services Growth Below Forecasts in July
The ISM Services PMI in the US edged up to 54.1 in July 2026 from 54 in June, slightly below forecasts of 54.5, while continuing to point to expansion in the services sector. Business activity (59.1 vs 55.4), new orders (57.2 vs 55.1) and inventories (51.4 vs 51.2) increased faster but employment returned to contraction territory after only one month in expansion (47.4 vs 51.2). In addition, price pressures increased (70.3 vs 67.7), with petroleum-related products and plastics again reported as commodities up in price, although the number of commodities reported as down in price increased to six, up from three the previous month. Backlog of orders (50.9 vs 54.9) and supplier deliveries (52.8 vs 54.4) slowed. “Tariff impacts and the Middle East conflict continued to be mentioned by respondents, but much less frequently than in prior reports. The World Cup was again cited in the comments regarding increased business activity and new orders”, according to Steve Miller, Chair of the ISM.
2026-08-05
US Services Growth Remains Solid in June
The ISM Services PMI in the US fell to 54.0 in June 2026, down from 54.5 in May, matching market expectations. The reading still indicates solid expansion in US services activity, though at a softer pace, driven by a slowdown in business activity growth (55.4 vs. 57.7 in May) and new orders (55.1 vs. 57.3). Meanwhile, the employment index saw its largest increase since 2024, rising to 51.2 from 47.9, marking the first expansion in headcount since February. Price inflation also eased to a four-month low of 67.7, down from 71.3. Despite ongoing concerns about persistent inflation tied to the Middle East conflict, survey respondents noted that business conditions remain robust.
2026-07-06
US Services Activity Accelerates
The ISM Services PMI increased to 54.5 in May 2026 from 53.6 in April, above forecasts of 53.8. The reading pointed to the strongest gain in the services sector in three months, with faster growth seen for business activity (57.7 vs 55.9), new orders (57.3 vs 53.5) and inventories (62.5 vs 53.1). On the other hand, employment contracted for a third consecutive month (47.9 vs 48), with respondents commenting frequently that their companies had instituted hiring freezes or were not back filling vacated positions. In addition, price pressures intensified to hit the highest since August 2022 (71.3 vs 70.7), with diesel, gasoline, oil and related commodities being once again most frequently mentioned as up in price. Also, petroleum-related products were mentioned as a commodity up in price, a dynamic not seen yet in April. Meanwhile, growth in backlog of orders slowed (51.3 vs 53) and the supplier deliveries index indicated slower supplier delivery performance (55.2 vs 56.8).
2026-06-03