The ISM Services PMI fell to 55.9 in May of 2022 from 57.1 in April, below market forecasts of 56.4 and pointing to the slowest expansion in the services sector since February of 2021. Production (54.5 vs 59.1), inventories (51 vs 52.3), and backlog of orders (52 vs 59.4) increased less than in April, but employment rebounded faster (50.2 vs 49.5) and new orders accelerated (57.6 vs 54.6). Meanwhile, prices eased from record levels but remained elevated (82.1 vs 84.6). "COVID-19 continues to disrupt the services sector, as well as the war in Ukraine. Labor is still a big issue, prices continue to increase" and businesses struggle to replenish inventories, according to Anthony Nieves, Chair of the ISM Services Business Survey Committee. source: Institute for Supply Management
Non Manufacturing PMI in the United States averaged 54.98 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 June of 2022.
Non Manufacturing PMI in the United States is expected to be 55.20 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.