The significant increase in service activities in September was an encouraging surprise given the growing concerns over slowing growth. The Institute for Supply Management said on Thursday that its service sector index grew to 54.9 in September from 51.5 in August. That was the fastest pace of growth ... READ MORE >
ISM service sector index
Service sector bounces back in July, easing growth concerns
Few observers could have expected that the ISM service index would become the market’s savior this week, but that is what happened. The index rose to positive territory at 51.4 after dropping in June to 48.8, suggesting that some of the concerns over an imminent recession looked overblown. We remain ... READ MORE >
Service sector continues to grow in February
The service sector continued to grow in February for the 14th straight month, according to the Institute for Supply Management on Tuesday. While the overall service index pointed to a slightly slower February, falling to 52.6 from 53.4, the subindexes for business activity and new orders registered ... READ MORE >
Job openings fall to lowest level since 2021, signaling Fed pivot
Job openings came in much lower than expected in October, continuing the declining trend that began early last year. Along with a downward revision to September's data, the labor market is now the most balanced it has been since 2021. With 8.7 million job openings in October, the ... READ MORE >
Service sector growth in U.S. reaches a six-month high
The service sector in the United States grew faster in August on the heels of a surge in summer spending, the Institute for Supply Management reported on Wednesday. The service composite index rose to 54.5 from 52.7, marking the highest level since February. The increase was broad-based as the main ... READ MORE >
Service sector growth eases in July
The service sector grew more slowly in July as it continued to show resilience despite recession concerns. The Institute for Supply Management's index for services inched down to 52.7 in July from 53.9 in June, indicating expansion for the seventh straight month. Underneath the top-line number, the ... READ MORE >
Service sector growth weakens in March
Service sector activities grew at a much slower pace in March after posting solid growth in the first two months of the year, the Institute for Supply Management reported on Wednesday. The slowdown came amid increasing signs of a pullback in overall demand as tightening monetary policy, ... READ MORE >
U.S. service sector grows, adding pressure on Fed
The Institute for Supply Management's service index rose in November as business activities increased on the month. The unexpectedly strong purchasing managers survey data, released on Monday, added more pressure on the Federal Reserve as focuses on taming inflation, especially in services. The ... READ MORE >
Service sector continued to expand in August
Service sector growth inched up in August, marking the 27th month in a row of expansion despite recession fears, according to data from the Institute for Supply Management released on Tuesday. New orders and employment, a proxy for future business activities, also grew faster in August, suggesting a ... READ MORE >
Chart of the day: Service sector grows at slowest pace in two years
The service sector continued to moderate, despite the current shift from spending on goods to services. Higher inflation, mostly from energy and food prices, kept consumers away from spending more on discretionary services. The Institute for Supply Management's service index inched down to 55.3 in ... READ MORE >