September ISM Services PMI index comes in stronger than consensus

Posted on October 5, 2022Comments Off on September ISM Services PMI index comes in stronger than consensus

Hotel Lobby with Employees and Guests

RichLegg/E+ via Getty Images

September ISM Services PMI Index: 56.7 vs. 56.0 consensus and 56.9 in August, indicating that the services economy grew for the 28th month in a row.

“The services sector had a slight pullback in growth for the month of September due to decreases in business activity and new orders,” said Anthony Nieves, Chair of the Institute for Supply Management Services Business Survey Committee. “Employment improved and supplier deliveries slowed at a slightly slower rate.”

  • Business Activity Index: 59.1 vs. 57.0 consensus and 60.9 prior.
  • New Orders: 60.6 vs. 61.8.
  • Employment: 53.0 vs. 50.2.
  • Prices: 68.7 vs. 71.5
  • Inventories: 44.1 vs. 46.2
  • Supplier Deliveries: 53.9 vs. 54.5.

The Prices Index fell for the fifth consecutive month in September, down 2.8 percentage points to 68.7%. Still “services businesses still continue to struggle to replenish their stocks, as the Inventories Index contracted for the fourth consecutive month; the reading of 44.1% is down 2.1 percentage points from August’s figure of 46.2%,” Nieves said.

Fifteen industries reported growth

Earlier, international trade in goods and services deficit narrowed in August

Source link

Comments Off on September ISM Services PMI index comes in stronger than consensus