ISM Services PMI

The Institute for Supply Management’s (ISM) Services Purchasing Managers Index (PMI) reveals the current conditions in the US service sector, which has historically been a large GDP contributor. A print above 50 shows expansion in the service sector’s economic activity. Stronger-than-expected readings usually help the USD gather strength against its rivals. In addition to the headline PMI, the Employment Index and the Prices Paid Index numbers are also watched closely by investors as they provide useful insights regarding the state of the labour market and inflation.

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Most recent - Wednesday 6 September 2023 14:00

52.7

Revised

Forecast

52.5

Actual

54.5

Higher numbers than forecast tend to be bullish for USD/xxx pairs and bearish for xxx/USD pairs.

Next event - Wednesday 4 October 2023 14:00

54.5

Forecast

53.6

Actual

The typical/expected impact on USD pairs is high.

The consensus forecast for ISM Services PMI is 53.6. A higher value than forecast tends to be bullish for USD/xxx pairs and bearish for xxx/USD pairs.

Trading range

Forecast history

The most recent announced value for ISM Services PMI was 54.5 against a forecast of 52.5.

Past events

Date

Forecast

Actual

Wednesday 6 September 2023 14:00

52.5

54.5

Thursday 3 August 2023 14:00

52.7

Thursday 6 July 2023 14:00

53.9

Monday 5 June 2023 14:00

51.5

50.3

Wednesday 3 May 2023 14:00

51.8

51.9

Wednesday 5 April 2023 14:00

54.5

51.2

Friday 3 March 2023 15:00

54.5

55.1

Friday 3 February 2023 15:00

50.4

55.2

Friday 6 January 2023 15:00

49.6

Monday 5 December 2022 15:00

53.1

56.5

Thursday 3 November 2022 14:00

55.5

54.4

Wednesday 5 October 2022 14:00

56.7

Tuesday 6 September 2022 14:00

55.1

56.9

Wednesday 3 August 2022 14:00

53.5

56.7

Wednesday 6 July 2022 14:00

54.5

55.3

Friday 3 June 2022 14:00

56.4

55.9

Wednesday 4 May 2022 14:00

58.5

57.1

Tuesday 5 April 2022 14:00

58.3

Thursday 3 March 2022 15:00

56.5

Thursday 3 February 2022 15:00

59.5

59.9

Thursday 6 January 2022 15:00

66.9

Friday 3 December 2021 15:00

69.1

Wednesday 3 November 2021 14:00

66.7

Tuesday 5 October 2021 14:00

61.9

Friday 3 September 2021 14:00

61.5

61.7

Wednesday 4 August 2021 14:00

60.4

64.1

Tuesday 6 July 2021 14:00

63.5

60.1

Thursday 3 June 2021 14:00

Wednesday 5 May 2021 14:00

64.3

62.7

Monday 5 April 2021 14:00

58.5

63.7

Wednesday 3 March 2021 15:00

58.7

55.3

Wednesday 3 February 2021 15:00

56.8

58.7

Thursday 7 January 2021 15:00

54.6

57.2

Thursday 3 December 2020 15:00

55.9

Wednesday 4 November 2020 15:00

57.5

56.6

Monday 5 October 2020 14:00

56.3

57.8

Economic context

Recent economic data has been broadly neutral for USD. Other recent announcements which may affect the market's interpretation of the next ISM Services PMI result:

		Previous	Latest
Michigan Consumer Sentiment Index	Bullish change	67.7	68.1
UoM 5-year Consumer Inflation Expectation	Bullish change	2.7%	2.8%
Chicago Purchasing Managers' Index	Bearish change	48.7	44.1
Core Personal Consumption Expenditures - Price Index (MoM)	Bearish change	0.2%	0.1%
Core Personal Consumption Expenditures - Price Index (YoY)	Bearish change	4.3%	3.9%
Personal Consumption Expenditures - Price Index (MoM)	Bullish change	0.2%	0.4%
Personal Consumption Expenditures - Price Index (YoY)	Bullish change	3.4%	3.5%
Personal Income (MoM)	Bullish change	0.2%	0.4%
Personal Spending	Bearish change	0.9%	0.4%
Pending Home Sales (MoM)	Bearish change	0.9%	-7.1%
Core Personal Consumption Expenditures (QoQ)	(no change)	3.7%	3.7%
Gross Domestic Product Annualized	(no change)	2.1%	2.1%
Gross Domestic Product Price Index	Bearish change	2%	1.7%
Initial Jobless Claims	Bearish change	202K	204K
Personal Consumption Expenditures Prices (QoQ)	(no change)	2.5%	2.5%
Durable Goods Orders	Bullish change	-5.6%	0.2%
Durable Goods Orders ex Defense	Bullish change	-6%	-0.7%
Durable Goods Orders ex Transportation	Bullish change	0.1%	0.4%
Nondefense Capital Goods Orders ex Aircraft	Bullish change	-0.4%	0.9%
New Home Sales Change (MoM)	Bearish change	8%	-8.7%
Housing Price Index (MoM)	Bullish change	0.4%	0.8%
S&P Global Composite PMI	Bearish change	50.2	50.1
S&P Global Manufacturing PMI	Bullish change	47.9	48.9
S&P Global Services PMI	Bearish change	50.5	50.2
Existing Home Sales Change (MoM)	Bullish change	-2.2%	-0.7%
Initial Jobless Claims	Bullish change	221K	201K
Philadelphia Fed Manufacturing Survey	Bearish change	12	-13.5
Fed Interest Rate Decision	(no change)	5.5%	5.5%
Interest Rate Projections - 1st year	Bullish change	4.6%	5.1%
Interest Rate Projections - 2nd year	Bullish change	3.4%	3.9%
Interest Rate Projections - 3rd year	Bearish change	3.1%	2.9%
Interest Rate Projections - Current	(no change)	5.6%	5.6%
Interest Rate Projections - Longer	(no change)	2.5%	2.5%
Building Permits (MoM)	Bullish change	1.443M	1.543M
Housing Starts (MoM)	Bearish change	1.447M	1.283M

About ISM Services PMI

Country:	United States
Currency:	USD
Source:	Institute for Supply Management
Category:	Economic Activity
Frequency:	Monthly

Related events

	Australia		Gross Domestic Product (QoQ)
	Canada		Gross Domestic Product Annualized
	Switzerland		Gross Domestic Product s.a. (QoQ)
	China		Non-Manufacturing PMI
	China		Gross Domestic Product (YoY)
	China		Gross Domestic Product (QoQ)
	China		NBS Manufacturing PMI
	Germany		Gross Domestic Product (QoQ)
	Eurozone		Gross Domestic Product s.a. (YoY)
	Eurozone		Gross Domestic Product s.a. (QoQ)
	Japan		Gross Domestic Product (QoQ)
	Japan		Tankan Large Manufacturing Index
	New Zealand		Gross Domestic Product (YoY)
	New Zealand		Gross Domestic Product (QoQ)
	United Kingdom		Gross Domestic Product (QoQ)
	United States		ISM Manufacturing PMI
	United States		Gross Domestic Product Annualized
	United States		Nondefense Capital Goods Orders ex Aircraft
	United States		Durable Goods Orders
	Australia		National Australia Bank's Business Confidence (QoQ)
	Australia		S&P Global Services PMI
	Australia		AiG Performance of Mfg Index
	Australia		AiG Industry Index
	Australia		Gross Domestic Product (YoY)
	Canada		Bank of Canada Business Outlook Survey
	Canada		Gross Domestic Product (MoM)
	Canada		Ivey Purchasing Managers Index
	Canada		Ivey Purchasing Managers Index s.a
	Canada		Gross Domestic Product (QoQ)
	Canada		S&P Global Manufacturing PMI
	Switzerland		KOF Leading Indicator
	Switzerland		Industrial Production (YoY)
	Switzerland		Gross Domestic Product (YoY)
	Switzerland		ZEW Survey – Expectations
	China		Industrial Production (YoY)
	China		Caixin Services PMI
	China		Caixin Manufacturing PMI
	Germany		ZEW Survey – Economic Sentiment
	Germany		IFO – Current Assessment
	Germany		S&P Global/BME Manufacturing PMI
	Germany		IFO – Expectations
	Germany		S&P Global/BME Composite PMI
	Germany		ZEW Survey – Current Situation
	Germany		IFO – Business Climate
	Germany		Gross Domestic Product w.d.a (YoY)
	Germany		Gross Domestic Product (YoY)
	Germany		Factory Orders s.a. (MoM)
	Eurozone		ZEW Survey – Economic Sentiment
	Eurozone		S&P Global Composite PMI
	Eurozone		Industrial Production s.a. (MoM)
	Eurozone		Business Climate
	Spain		S&P Global Services PMI
	Spain		S&P Global Manufacturing PMI
	France		Gross Domestic Product (QoQ)
	Italy		Gross Domestic Product (YoY)
	Italy		S&P Global Manufacturing PMI
	Italy		Gross Domestic Product (QoQ)
	Italy		S&P Global Services PMI
	Japan		Tankan Large All Industry Capex
	Japan		Tankan Large Manufacturing Outlook
	Japan		Industrial Production (YoY)
	Japan		Gross Domestic Product Annualized
	Japan		Industrial Production (MoM)
	New Zealand		Business NZ PMI
	New Zealand		NZIER Business Confidence (QoQ)
	Poland		Purchasing Manager Index
	United Kingdom		Manufacturing Production (MoM)
	United Kingdom		S&P Global/CIPS Composite PMI
	United Kingdom		Manufacturing Production (YoY)
	United Kingdom		Gross Domestic Product (MoM)
	United Kingdom		Industrial Production (MoM)
	United Kingdom		Gross Domestic Product (YoY)
	United Kingdom		NIESR GDP Estimate (3M)
	United Kingdom		S&P Global/CIPS Manufacturing PMI
	United States		Durable Goods Orders ex Defense
	United States		S&P Global Manufacturing PMI
	United States		S&P Global Services PMI
	United States		Chicago Fed National Activity Index
	United States		Factory Orders (MoM)
	United States		ISM Services New Orders Index
	United States		ISM Manufacturing New Orders Index
	United States		Philadelphia Fed Manufacturing Survey
	United States		S&P Global Composite PMI
	United States		Chicago Purchasing Managers' Index
	United States		Durable Goods Orders ex Transportation
	United States		Gross Domestic Product Price Index

Calendar - ISM Services PMI - United States

ISM Services PMI

Most recent - Wednesday 6 September 2023 14:00

Next event - Wednesday 4 October 2023 14:00

Trading range

Trading range after each ISM Services PMI event

Forecast history

Past events

Economic context

About ISM Services PMI

Related events