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 5 February 2025 15:00

Revised

Forecast

54.3

Actual

52.8

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

Next event - Wednesday 5 March 2025 15:00

52.8

Forecast

Actual

The typical/expected impact on USD pairs is high.

There is no forecast value for ISM Services PMI yet - check back for updates.

Trading range

Forecast history

The most recent announced value for ISM Services PMI was 52.8 against a forecast of 54.3.

Past events

Date

Forecast

Actual

Wednesday 5 February 2025 15:00

54.3

52.8

Tuesday 7 January 2025 15:00

53.3

54.1

Wednesday 4 December 2024 15:00

55.5

52.1

Tuesday 5 November 2024 15:00

53.8

Thursday 3 October 2024 14:00

51.7

54.9

Thursday 5 September 2024 14:00

51.1

51.5

Monday 5 August 2024 14:00

51.4

Wednesday 3 July 2024 14:00

52.5

48.8

Wednesday 5 June 2024 14:00

50.8

53.8

Friday 3 May 2024 14:00

49.4

Wednesday 3 April 2024 14:00

52.7

51.4

Tuesday 5 March 2024 15:00

52.6

Monday 5 February 2024 15:00

53.4

Friday 5 January 2024 15:00

52.6

50.6

Tuesday 5 December 2023 15:00

52.7

Friday 3 November 2023 14:00

51.8

Wednesday 4 October 2023 14:00

53.6

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

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
Building Permits (MoM)	Bullish change	1.482M	1.483M
Housing Starts (MoM)	Bearish change	1.515M	1.366M
NY Empire State Manufacturing Index	Bullish change	-12.6	5.7
Industrial Production (MoM)	Bearish change	1%	0.5%
Retail Sales (MoM)	Bearish change	0.7%	-0.9%
Retail Sales Control Group	Bearish change	0.8%	-0.8%
Retail Sales ex Autos (MoM)	Bearish change	0.7%	-0.4%
Initial Jobless Claims	Bullish change	220K	213K
Producer Price Index (MoM)	Bearish change	0.5%	0.4%
Producer Price Index (YoY)	Bullish change	3.3%	3.5%
Producer Price Index ex Food & Energy (MoM)	Bearish change	0.4%	0.3%
Producer Price Index ex Food & Energy (YoY)	Bearish change	3.7%	3.6%
Monthly Budget Statement	Bearish change	$-87B	$-129B
Consumer Price Index (MoM)	Bullish change	0.4%	0.5%
Consumer Price Index (YoY)	Bullish change	2.9%	3%
Consumer Price Index ex Food & Energy (MoM)	Bullish change	0.2%	0.4%
Consumer Price Index ex Food & Energy (YoY)	Bullish change	3.2%	3.3%
Michigan Consumer Sentiment Index	Bearish change	71.1	67.8
UoM 5-year Consumer Inflation Expectation	Bullish change	3.2%	3.3%
Average Hourly Earnings (MoM)	Bullish change	0.3%	0.5%
Average Hourly Earnings (YoY)	Bullish change	3.9%	4.1%
Labor Force Participation Rate	Bullish change	62.5%	62.6%
Nonfarm Payrolls	Bearish change	307K	143K
U6 Underemployment Rate	(no change)	7.5%	7.5%
Unemployment Rate	Bullish change	4.1%	4%
Initial Jobless Claims	Bearish change	208K	219K
Nonfarm Productivity	Bearish change	2.2%	1.2%
Unit Labor Costs	Bullish change	0.8%	3%
Challenger Job Cuts	Bullish change	38.792K	49.795K

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		Industrial Production (YoY)
	China		Caixin Services PMI
	China		NBS Manufacturing PMI
	China		Caixin Manufacturing PMI
	Germany		S&P Global/BME Manufacturing PMI
	Germany		S&P Global/BME Composite PMI
	Germany		S&P Global/BME Services PMI
	Eurozone		Gross Domestic Product s.a. (YoY)
	Eurozone		Gross Domestic Product s.a. (QoQ)
	Eurozone		S&P Global Composite PMI
	Eurozone		S&P Global Manufacturing PMI
	Eurozone		S&P Global Services PMI
	Japan		Gross Domestic Product (QoQ)
	Japan		Tankan Large Manufacturing Index
	New Zealand		Gross Domestic Product (YoY)
	New Zealand		Gross Domestic Product (QoQ)
	United Kingdom		S&P Global/CIPS Services PMI
	United Kingdom		S&P Global/CIPS Composite PMI
	United Kingdom		Gross Domestic Product (YoY)
	United Kingdom		Gross Domestic Product (QoQ)
	United Kingdom		S&P Global/CIPS Manufacturing PMI
	United States		ISM Manufacturing PMI
	United States		S&P Global Manufacturing PMI
	United States		S&P Global Services PMI
	United States		Gross Domestic Product Annualized
	Australia		Private Capital Expenditure
	Australia		S&P Global Manufacturing PMI
	Australia		National Australia Bank's Business Confidence (QoQ)
	Australia		S&P Global Services PMI
	Australia		S&P Global Composite PMI
	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		Industrial Production (YoY)
	Switzerland		Gross Domestic Product (YoY)
	Switzerland		ZEW Survey – Expectations
	Germany		ZEW Survey – Economic Sentiment
	Germany		IFO – Current Assessment
	Germany		Factory Orders n.s.a. (YoY)
	Germany		Gross Domestic Product (QoQ)
	Germany		IFO – Expectations
	Germany		ZEW Survey – Current Situation
	Germany		IFO – Business Climate
	Germany		Industrial Production n.s.a. w.d.a. (YoY)
	Germany		Gross Domestic Product w.d.a (YoY)
	Germany		Gross Domestic Product (YoY)
	Germany		Factory Orders s.a. (MoM)
	Germany		Industrial Production s.a. (MoM)
	Eurozone		Sentix Investor Confidence
	Eurozone		ZEW Survey – Economic Sentiment
	Eurozone		Economic Sentiment Indicator
	Eurozone		Industrial Production s.a. (MoM)
	Eurozone		Business Climate
	Eurozone
	Spain		S&P Global Services PMI
	Spain		Gross Domestic Product - Estimated (QoQ)
	Spain		S&P Global Manufacturing PMI
	Spain		Gross Domestic Product (QoQ)
	France		S&P Global Manufacturing PMI
	France		S&P Global Composite PMI
	France		S&P Global Services PMI
	India		HSBC Services PMI
	India		Gross Domestic Product Quarterly (YoY)
	India		HSBC Manufacturing PMI
	India		HSBC Composite PMI
	Italy		Gross Domestic Product (YoY)
	Italy		S&P Global Manufacturing PMI
	Italy		Gross Domestic Product (QoQ)
	Japan		Tankan Large All Industry Capex
	Japan		Tankan Large Manufacturing Outlook
	Japan		Gross Domestic Product Annualized
	Japan		Gross Domestic Product Deflator (YoY)
	South Korea		Gross Domestic Product Growth (QoQ)
	New Zealand		Business NZ PMI
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	United Kingdom		Manufacturing Production (MoM)
	United Kingdom		Manufacturing Production (YoY)
	United Kingdom		Gross Domestic Product (MoM)
	United Kingdom		Industrial Production (MoM)
	United States		Durable Goods Orders ex Defense
	United States		Industrial Production (MoM)
	United States		Factory Orders (MoM)
	United States		Nondefense Capital Goods Orders ex Aircraft
	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		NY Empire State Manufacturing Index
	United States		Chicago Purchasing Managers' Index
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Calendar - ISM Services PMI - United States

ISM Services PMI

Most recent - Wednesday 5 February 2025 15:00

Next event - Wednesday 5 March 2025 15:00

Trading range

Trading range after each ISM Services PMI event

Forecast history

Past events

Economic context

About ISM Services PMI

Related events