The ISM Services PMI unexpectedly increased to 56.7 in July of 2022, the highest in 3-months, from 55.3 in June and beating market forecasts of 53.5. Faster increases were seen for production (59.9 vs 56.1) and new orders (59.9 vs 55.6) while employment fell less (49.1 vs 47.4) and price pressures eased (72.3 vs 80.1). On the other hand, inventories fell at a faster pace (45 vs 47.5). "Availability issues with overland trucking, a restricted labor pool, various material shortages and inflation continue to be impediments for the services sector”, Anthony Nieves, Chair of the Institute for Supply Management said. source: Institute for Supply Management
Non Manufacturing PMI in the United States averaged 54.99 points from 1997 until 2022, reaching an all time high of 69.10 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 Non Manufacturing PMI - data, historical chart, forecasts and calendar of releases - was last updated on August of 2022.
Non Manufacturing PMI in the United States is expected to be 53.00 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 Non Manufacturing PMI is projected to trend around 52.00 points in 2023, according to our econometric models.