Latest posts about Institute for Supply Management
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Manufacturing output declines for fifth consecutive month in March, says ISM
April 3, 2023
The report’s key metric, the PMI, at 46.3 (a reading of 50 or higher indicates growth), was down 1.4% compared to February, contracting, at a faster rate, for the fifth consecutive month.
February services sector activity shows continued growth, says 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 heads 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 solid 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.
December manufacturing output decreases, 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’s latest semiannual report optimistic on 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, notes 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 declines 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, says 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.
September Services sector activity stays 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.
Services PMI sees gains in July, reports ISM
August 3, 2022
The Services PMI came in at 56.5 (a reading of 50 or higher signals growth), up 1.4% compared to June, following a slight 0.6% decrease from May to June. The Services PMI showed growth, at a faster rate, for the 26th consecutive month, with services sector growth now remaining intact for 148 of the last 150 months through June, said ISM.
July manufacturing output falls slightly but still growing, reports ISM
August 1, 2022
The July PMI reading is 4.8% below the 12-month average of 57.6, and it represents the lowest reading over the last 12 months and also the lowest going back to June 2020’s 52.4. The high over the last 12-month period is January’s 57.6.
June Services PMI shows more growth but at a slightly reduced rate
July 6, 2022
The Services PMI came in at 55.3 (a reading of 50 or higher signals growth), down 0.6% compared to May, following a 1.2% decrease, from April to May. The Services PMI showed growth, at a slower rate, for the 25th consecutive month, with services sector growth now remaining intact for 147 of the last 149 months through June, said ISM.
ISM report: June manufacturing output falls from May but growth still intact
July 1, 2022
The report’s key metric, the PMI, came in at 53.0 (a reading of 50 or higher indicates growth), for a 3.1% decrease compared to May’s 56.1 reading, marking the 25th consecutive month of growth, at a faster rate, as well as the 25th consecutive month of overall economic growth.
May Services PMI falls but remains in growth mode, says ISM
June 6, 2022
The reading for the report’s key metric—the Services PMI (formerly the Non-Manufacturing PMI)—came in at 55.9 (a reading of 50 or higher signals growth) was down 1.2% from April, matching the March to April decrease. The Services PMI showed growth, at a slower rate, for the 24th consecutive month, with services sector growth now remaining intact for 146 of the last 148 months through May, said ISM.