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ISM Services PMI (US)

Event Date: Monday, February 5, 2024
Event Time: 15:00 CET

Services Activity to Increase to 52 Points

Updated Sunday, February 4, 2024
EVENT ENDED
The ISM non-manufacturing PMI fell to 49.1 points in March 2020, as businesses started to close on coronavirus, but was expected to fall deep into contraction in April, although it beat expectations of 35 points, coming at 41.5 points, while in May this indicator increased to 43.1 points. In June we saw a large jump to 52.6 points though. By August this indicator increased to 56 points, but it cooled off in September to 55.4 points, although it has surged back up in October and November to 57.5 points. In December we saw a jump to 60.7 points, but it cooled off in January this year. In February services cooled off further to 55.3 points, while in March they jumped to 63.7 points. In April they cooled off to 62.7 points but increased to 64 points in May. They remained above 60 points until August while September is expected at 59.9 points. They have slowed to 55.3 points in June while July jumped to 56.7 points. Services have slowed since then but we have seen some improvement in 2023 with March coming at 51.2. December came at 50.6 points, while January is expected at 52.0 points. Please follow us for live coverage of this event by experienced market analysts.    

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About ISM Services PMI (US)
Provided by the Institute for Supply Management (ISM), the ISM Non-Manufacturing PMI analyses the conditions of the U.S. services sector. It is released monthly and adjusted on a seasonal basis to reflect ongoing business conditions. On a scale of 0-100, a value above 50 is viewed as being positive, while below 50 is viewed as negative toward the USD. Services make up 80% of the U.S. economy, top three globally. Given the importance of services to U.S. GDP, the ISM Non-Manufacturing PMI reflects the relative expansion or contraction of the services sector as a whole.
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