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 >
ISM service sector index
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 >
Chart of the day: Service sector expands at record pace
The shift back to spending on services continued to accelerate in November as the headline purchasing managers’ index for services reached an all-time high, according to data released by the Institute of Supply Management on Friday. The headline index rose to 69.1 on the month from 66.7, the third ... READ MORE >
CHART OF THE DAY: ISM index reaches recent high, boosted by service sector gains
The ISM non-manufacturing index climbed to 63.7% in March, firmly beating analysts' expectations and reaching its highest reading in recent history. The March reading followed February's significant decline, when the ups and downs of the race between the COVID-19 vaccine and new coronavirus variants ... READ MORE >
CHART OF THE DAY: Service sector survey shows strength in January
A measurement of the services side of the economy rose to its highest level since well before the pandemic in January, another indication that the economy is poised for a recovery. The Institute for Supply Management said on Wednesday that its nonmanufacturing purchasing managers’ index came in at 58.7 ... READ MORE >