Key Insights
- ISM Services PMI improved from 52.7 in July to 54.5 in August.
- New Orders Index increased from 55.0 to 57.5.
- Business Activity Index grew from 57.1 to 57.3.
On September 6, the Institute for Supply Management released ISM Services PMI report for August. The report indicated that ISM Services PMI increased from 52.7 in July to 54.5 in August, compared to analyst consensus of 52.5. Numbers above 50 show expansion. The index is in the expansion territory for the eighth month in a row.
New Orders Index improved from 55.0 in July to 57.5 in August, while Business Activity Index increased from 57.1 to 57.3.
The Institute for Supply Management commented: “There has been an increase in the rate of growth for the services sector, reflected by increases in all four subindexes that directly factor into the composite Services…
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