U.S. Services Index Indicates Modestly Slower Growth In September
11 Articles
11 Articles
The index of purchasing managers (PMI) of the U.S. service sector measured by the Institute for Offer Management (ISM) fell to 54.9 in September, from 55.4 in August. The reading fell below the market consensus, from 55.0, and is in expanding territory, over 50, 27 months ago. Among the sub-indices, the one of new orders fell from 60.9 in August to 59.8 in September, and the one of new orders for export was from 56.3 to 46.9. The sub-indices of …
U.S. Services Index Indicates Modestly Slower Growth In September
A report released by the Institute for Supply Management on Monday showed a modest slowdown in the pace of growth in U.S. service sector activity in the month of September. The ISM said its services PMI dipped to 54.9 in September after rising to 55.4 in August, although a reading above 50 still indicates growth. Economists had expected the index to edge down to 55.0.
The ISM services PMI fell to 54.9 in November from 55.4 in the previous month, slightly below expectations. The US services sector remains strong, with the employment component rising to 50.1, while new orders and business activity remained well above the 50-point expansion threshold. The only worrying sign is the further rise in the price component to 74, indicating persistent price pressures. This is one of the main reasons why inflation has s…
In the US, the Institute for Supply Management (ISM) services sector Purchasing Managers Index (PMI) fell to 54.9 in September, below market expectations and indicating a slowdown in the sector's growth rate.
The momentum in price increases has become evident. The price indicator within the Services PMI reached 74, its highest level in over three years. The two most frequently cited cost items are fuel and customs duties...
The ISM purchasing managers' index for the services sector was 54.9 in September, compared to 55.4 in August.
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