The service sector continued its strong growth in February on the heels of robust new orders, business activity and improvement in inventories. The U.S. service purchasing managers index registered at 55.1, only slightly lower than the 55.2 in January, according data released Friday by the ... READ MORE >
Services PMI
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 >
Chart of the day: Service sector grew more slowly in May
The service sector grew more slowly in May as production and prices cooled, according to a report from the Institute for Supply Management on Friday. Demand, however, remained strong as consumers continued to shift spending from goods to services, especially as the summer approaches. We expect the ... READ MORE >
Service sector moderated amid rising prices and labor crunch
The service sector registered slower growth in February as inflation and labor shortages remained top concerns, according to a report from the Institute for Supply Management on Thursday. The services purchasing managers’ index declined 3.4 percentage points to 56.5 on the month, but for the 21st month ... 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 >