US Services PMI - Economic Calendar - FX Leaders FX Leaders

US Services PMI

Event Date: Wednesday, November 23, 2022
Event Time: 14:45 CET

Services Expected to Improve Slightly but Remain in Contraction

Updated Wednesday, November 23, 2022
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 increase 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 and July is expected to slow further to 53.9 points. In while services activity fell in contraction while in August we saw a fall to 43.7 points, but the situation has improved somewhat since then and November is expected at 48.0 points. Please follow us for live coverage of this event by experienced market analysts.    

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About US Services PMI
Survey of about 400 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories;
It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy;
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