U.S. ISM Services PMI: Mixed Bag in August

Economic activity in the services sector grew in August for the third consecutive month, say the nation's purchasing and supply executives in the latest ISM® Services PMI® Report. The Services PMI® indicated expansion at 52 percent, above the 50-percent breakeven point for the 13th time in the last 14 months. The report was issued today by Steve Miller, CPSM, CSCP, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee: "In August, the Services PMI® registered 52 percent, 1.9 percentage points higher than the July figure of 50.1 percent and in expansion territory for the third month in a row. The Business Activity Index remained in expansion in August, registering 55 percent, 2.4 percentage points higher than the reading of 52.6 percent recorded in July. This index has not been in contraction territory since May 2020. The New Orders Index also remained in expansion in August, with a reading of 56 percent, up 5.7 percent from July's figure of 50.3 percent. The Employment Index was in contraction territory for the third month in a row and the fifth time in the last six months; the reading of 46.5 percent is 0.1 percentage point higher than the 46.4 percent recorded in July. "The Supplier Deliveries Index registered 50.3 percent, 0.7 percentage point lower than the 5 *US AUG. ISM SERVICES PMI AT 52 VS 50.1; EST. 50.1 *US AUG. ISM SERVICES NEW ORDERS AT 56 VS 50.3 *US AUG. ISM SERVICES EMPLOYMENT AT 46.5 VS 46.4 *US AUG. ISM SERVICES PRICES PAID AT 69.2 VS 69.9 ISM: US services activity grows in August Economic activity in the United States' service sector expanded in August, with the Services Purchasing Managers' Index (PMI) rising to 52% from July's 50.1%, remaining above the 50% breakeven point for the third month in a row, the Institute for Supply Management (ISM) said in its report published on Thursday. The Business Activity Index advanced by 2.4 percentage points compared to the previous month to 55%, while the New Orders Index jumped 5.7 percentage points to 56%. The Employment Index stayed in contraction territory for the third consecutive month, inching up 0.1 percentage point to 46.5%. Meanwhile, the Supplier Deliveries Index dropped to 50.3%. "Commentary once again was led by respondents' increasing citations of tariff impacts, with some indication that business activity and imports are being driven by an attempt to get ahead of additional price increases while preparing for the holiday peak season," Business Survey Committee Chair Steve Miller said.

Private sector employment increased by 54,000 jobs in August and pay was up 4.4 percent year-over-year according to the August ADP National Employment Report® produced by ADP Research in collaboration with the Stanford Digital Economy Lab ("Stanford Lab"). The ADP National Employment Report is an independent measure of the labor market based on the ...

In the week ending August 30, the advance figure for seasonally adjusted initial claims was 237,000, an increase of 8,000 from the previous week's unrevised level of 229,000. The 4-week moving average was 231,000, an increase of 2,500 from the previous week's unrevised average of 228,500. The advance seasonally adjusted insured unemployment rate was 1.3 ...