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 PMI
Service sector grew faster in July, beating forecasts
The service sector grew faster than expected in July on the back of broad-based increasing business activities and new orders, the Institute for Supply Management reported on Wednesday. The top-line composite index inched up to 56.7 in July from 55.3 in June, the 26th consecutive month of expansion ... READ MORE >
Chart of the day: Service sector grew at slower pace in December
The purchasing managers’ index for the service sector grew at a much slower rate in December as supply chain delays continued to put a drag on service activities, according to a report Thursday from the Institute for Supply Management. The slower rate of growth will most likely persist given that the ... READ MORE >
Chart of the day: Service sector grew at record pace
The Services Purchasing Managers’ Index hit a record high in October at 66.7%, 4.8 percentage points higher than in September, confirming the recent shift in consumption from goods to services that will last until the end of the year. A reading above 49.2% indicates expansion. The surging overall ... READ MORE >
Services PMI grew faster in September as prices and demand remained elevated
In a sign of the service sector’s continuing strength, the Services Purchasing Managers’ Index inched up by 0.2 percentage points to 61.9% in September—the 16th consecutive month of expansion, according to data released Tuesday by the Institute for Supply Management. Business activity, new orders ... READ MORE >