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April Services PMI contracts after 15 months of growth, reports ISM
May 3, 2024
The Services PMI, at 49.4 (a reading of 50 or higher signals growth) fell 2.0%. The last time the index contracted was in December 2022, when it came in at 49 and prior to that the last month seeing contraction was in May 2020, when it came in at 45.4.
April manufacturing output takes a step back after growing in March
May 1, 2024
The report’s benchmark metric, the PMI, came in at 49.2 (a reading of 50 or higher indicates growth), down 1.1% from March’s 50.3 reading. ISM added that the overall economy grew, at a slower rate, in April, for the 48th consecutive month.
Manufacturing sees growth in March, snaps 16-month stretch of contraction
April 1, 2024
The report’s benchmark metric, the PMI came in at 50.3 (a reading of 50 or higher indicates growth), topping the March PMI, of 47.8, and contracting after 16 months of declines. ISM added that the overall economy grew, at a faster rate, in March, for the 47th consecutive month. The previous 16 months of contraction through February were preceded by a stretch of 28 consecutive months of growth.
Services sector activity sees continued growth in February, reports ISM
March 5, 2024
The Services PMI, at 52.6 (a reading of 50 or higher signals growth), fell 0.8% in February, while growing, at a slower rate, for the 14th consecutive month. This marks growth in 44 of the last 45 months, with December 2022 being the one month with a decline over that period. ISM added that the overall economy, like the January Services PMI, saw growth, at a slower rate, for the 14th consecutive month as well.
February manufacturing output declines amid strong seasonal factors
March 1, 2024
The report’s benchmark metric, the PMI came in at 47.8 (a reading of 50 or higher indicates growth), down 1.3% compared to January’s 49.1 reading, contracting, at a faster rate, for the 16th consecutive month.
Services economy gets off to a solid start in 2024, reports ISM
February 5, 2024
The Services PMI, at 53.4 (a reading of 50 or higher signals growth), was up 2.9% in January, growing, at a faster rate, for the 13th consecutive month. This marks growth in 43 of the last 44 months, with December 2022 being the one month with a decline over that period. ISM added that the overall economy, like the January Services PMI, saw growth, at a faster rate, for the 13th consecutive month as well.
January manufacturing output gets closer to growth territory, reports ISM
February 1, 2024
The report’s benchmark metric, the PMI, came in at 49.1 (a reading of 50 or higher indicates growth), up 2.0% over January’s 47.1 reading, contracting, at a slower rate, for the 15th consecutive month. The past 15 months of contraction were preceded by a stretch of 28 consecutive months of growth. ISM also said that the overall economy grew in January, at a faster rate, for the 45th consecutive month.
Services economy activity finishes 2023 with growth, reports ISM
January 8, 2024
The Services PMI, at 50.6 (a reading of 50 or higher signals growth), fell 2.1% compare to November’s 52.7 reading, growing, at a slower rate, for the 12th consecutive month. ISM observed that the services sector and the overall economy have each been growing, at a slower rate, for the 12th consecutive month, through December.
December manufacturing output declines to end 2023, reports ISM
January 3, 2024
The report’s benchmark metric, the PMI, came in at 47.4 (a reading of 50 or higher indicates growth), up 0.7% over November’s 46.7, contracting, at a slower rate, for the 14th consecutive month.
ISM Semiannual report calls for continued economic output into 2024
December 15, 2023
Even though the manufacturing and service sectors have been on diverging paths in 2023, with manufacturing having contracted for 13 consecutive months and services having grown for 11 consecutive months, respectively, through November,one common theme they share is expectations for growth in 2022. That is a key takeaway from the Institute for Supply Management’s (ISM) December 2023 Semiannual Economic Forecast.
Services sector sees growth for the 11th consecutive month, reports ISM
December 5, 2023
The Services PMI—at 52.7 (a reading of 50 or higher signals growth)—increased 0.9, growing, at a faster rate, for the 11th consecutive month. ISM said that the services sector has seen growth in 41 of the last 42 months, with December 2022 being the one month with a decline.
Manufacturing output is flat from October to November, notes ISM
December 1, 2023
The report’s benchmark metric, the PMI, matched October’s reading, at 46.7 (a reading of 50 or higher indicates growth), contracting, at the same rate, for the 13th consecutive month. The past 13 months of contraction were preceded by a stretch of 28 consecutive months of growth. ISM also said that the overall economy contracted in November, at the same rate, for the second consecutive month, which was preceded by 30 consecutive months of growth.
October manufacturing output shows sequential gain but is short of growth mode, reports ISM
November 1, 2023
The report’s benchmark metric, the PMI increased 1.2%, to 46.7 (a reading of 50 or higher indicates growth), contracting, at a slower rate, for the 12th consecutive month. The past ten months of contraction were preceded by a stretch of 28 consecutive months of growth. ISM also said that the overall economy contracted in October, following growth in September, which was preceded by 30 consecutive months of growth.
Services economy sees continued growth in August, reports ISM
September 6, 2023
The Services PMI, at 54.5 (a reading of 50 or higher signals growth), increased 1.8%, growing, at a faster rate, for the eighth consecutive month. ISM said that the services sector has seen growth in 38 of the last 39 months, with December 2022 being the one month with a decline.
August manufacturing output declines for tenth consecutive month, reports ISM
September 1, 2023
The report’s benchmark metric, the PMI increased 1.2%, to 47.6 (a reading of 50 or higher indicates growth), contracting, at a slower rate, for the tenth consecutive month. The past ten months of contraction were preceded by a stretch of 29 consecutive months of growth.