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February services sector activity shows continued growth, reports ISM
March 3, 2023
The Services PMI—at 55.1 (a reading of 50 or higher signals growth)—was essentially even with January’s reading with a 0.1% decline, growing, at a slower rate, for the second consecutive month. January was 6.0% above December’s 49.2, which was down 6.9% compared to November’s 55.5. ISM added that the overall economy also grew, at a slower rate, in February, for the second consecutive month.
Manufacturing activity inches up in February, getting closer to growth, reports ISM
March 1, 2023
The report’s key metric, the PMI, at 47.7 (a reading of 50 or higher indicates growth), eked out a 0.3% increase, from January to February, contracting, at a slower rate, for the fourth consecutive month. The last four months of contraction, through February, were preceded by a stretch of 29 consecutive months of growth. ISM also said that the overall economy contracted, at a slower rate, in February, for the third consecutive month, which was preceded by 30 consecutive months of growth.
January services economy activity sees a strong start to 2022
February 3, 2023
The Services PMI—at 55.2 (a reading of 50 or higher signals growth)—increased 6.0% over December’s 49.2, which was down 6.9% compared to November’s 55.5. Through November, the Services PMI had grown for 30 consecutive months.
January PMI falls but remains in close range to estimates, reports ISM
February 1, 2023
The report’s key metric, the PMI, at 47.4 (a reading of 50 or higher indicates growth), down 1.0% from December’s 48.4, contracting, at a faster rate, for the third consecutive month. The last three months of contraction, through January, were preceded by a stretch of 29 consecutive months of growth. ISM also said that the overall economy contracted, at a faster rate, in January, for the second consecutive month, which was preceded by 30 consecutive months of growth.
December services economy activity ends 2022 with some declines, reports ISM
January 9, 2023
The Services PMI—at 49.6 a (a reading of 50 or higher signals growth)—fell 6.9% off of December’s 56.5, snapping a 30-month run of growth, coupled with the PMI contracting for two consecutive months for the first time going back to April and May 2020, in the early months of the pandemic. What’s more, prior to December’s PMI contraction, services growth had been intact for 152 of the last 154 months through November.
December manufacturing output declines, to finish 2022, reports ISM
January 4, 2023
The report’s key metric, the PMI, came in at 48.4 (a reading of 50 or higher indicates growth), down 0.6% from November’s 49.0, contracting, at a faster rate, for the second consecutive month. The last two months of contraction were preceded by a stretch of 29 consecutive months of growth. ISM added that the overall economy contracted in December, following 30 consecutive months of growth.
ISM December Semiannual report is optimistic about 2023 growth prospects
December 19, 2022
For manufacturing, ISM is estimating a 5.5% revenue gain in 2023, falling short of its 6.5% estimate from its predecessor report in May and its 9.2% 2022 growth rate. ISM member panelists are calling for 2023 services-based economy revenues to see a 3.1% gain in 2023, topping 2022’s 2.1% gain, which fell short of May’s 4.9% estimate.
Services economy turns in strong November performance, reports ISM
December 5, 2022
The Services PMI—at 56.5 (a reading of 50 or higher signals growth)—increased 2.1% over October’s 54.4, which was down 2.3% compared to September, growing, at a faster rate, for the 30th consecutive month, with services growth intact for 152 of the last 154 months through November.
Manufacturing output falls in November, reports ISM
December 1, 2022
The report’s key metric, the PMI, was 49.0 (a reading of 50 or higher indicates growth), down 1.2% from October’s 50.2, September’s 50.9 and back-to-back readings of 52.8 in July and August, with November’s contraction snapping a stretch of 29 consecutive months of growth.
Services economy output grows in October while declining sequentially, reports ISM
November 3, 2022
The Services PMI—at 54.4 (a reading of 50 or higher signals growth)—fell 2.3% compared to September, growing, at a slower rate, for the 29th consecutive month, with services sector growth intact for 151 of the last 153 months through October. What’s more, the October Services PMI reading came in at its lowest level going back to May 2020’s 45.2.
Manufacturing activity remains in growth mode as sector’s dynamics start to shift, reports ISM
November 1, 2022
The report’s key metric, the PMI, was 50.2 (a reading of 50 or higher indicates growth), following September’s 50.9 and back-to-back readings of 52.8 in July and August, growing, at a slower rate, for the 29th consecutive month, coupled with the overall economy also growing for the 29th consecutive month. This represents the lowest PMI reading, going back to May 2020’s 43.5.
September Services sector activity remains solid, reports ISM
October 5, 2022
The Services PMI—at 56.7 (a reading of 50 or higher signals growth)—was down 0.2% compared to August, growing, at a slower rate, for the 28th consecutive month, with month, with services sector growth intact for 150 of the last 152 months through September.
September manufacturing output slips but still remains on growth track
October 3, 2022
The report’s key metrics, the PMI, was 50.9 (a reading of 50 or higher indicates growth), following back-to-back readings of 52.8 in July and August, growing, at a slower rate, for the 28th consecutive month, in line with overall economic growth also for the 28th consecutive month. This is the lowest PMI reading May 2020, when it came in at 43.5.
August Services PMI turns in a solid reading reports ISM
September 6, 2022
The Services PMI—at 56.9 (a reading of 50 or higher signals growth)—edged out the July reading by 0.2%, growing, at a faster rate, for the 27th consecutive month, with services sector growth intact for 149 of the last 151 months through August.
August manufacturing output shows steady growth, reports ISM
September 1, 2022
The report’s key metric, the PMI, was 52.8 (a reading of 50 or higher indicates growth), matching the July PMI, growing, at the same rate, for the 27th consecutive month, as well as the 27th consecutive month of overall economic growth.