HomeLive CommentsUS PMI services dropped slightly to 56.7

US PMI services dropped slightly to 56.7

US ISM Services PMI dropped slightly from 56.9 to 56.7 in September, above expectation of 56.0. Looking at some details, business activity/production dropped from 60.9 to 59.1. New orders dropped from 61.8 to 60.6. Employment rose from 50.2 to 53.0. Prices dropped from 71.5 to 68.7.

ISM said: “The services sector had a slight pullback in growth for the month of September due to decreases in business activity and new orders. Employment improved and supplier deliveries slowed at a slightly slower rate.

“Based on comments from Business Survey Committee respondents, there have been improvements regarding supply chain efficiency, operating capacity and materials availability; however, performance remains less than ideal. Employment continued to improve despite the restricted labor market.”

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