Institute for Supply Management

Despite economic challenges, U.S. factory production rose in March, led primarily by the automotive industry

The Services PMI, at 51.5 (a reading of 50 or higher signals growth), fell 1.2% in March, while growing, at a slower rate, for the 15th consecutive month. This marks growth in 45 of the last 46 months, with December 2022 being the one month with a decline over that period. ISM added that the overall economy, like the March Services PMI, saw growth, at a slower rate, for the 15th consecutive month as well.

The report’s benchmark metric, the PMI came in at 50.3 (a reading of 50 or higher indicates growth), topping the March PMI, of 47.8, and contracting after 16 months of declines. ISM added that the overall economy grew, at a faster rate, in March, for the 47th consecutive month. The previous 16 months of contraction through February were preceded by a stretch of 28 consecutive months of growth.

The Services PMI, at 52.6 (a reading of 50 or higher signals growth), fell 0.8% in February, while growing, at a slower rate, for the 14th consecutive month. This marks growth in 44 of the last 45 months, with December 2022 being the one month with a decline over that period.

The Services PMI, at 52.6 (a reading of 50 or higher signals growth), fell 0.8% in February, while growing, at a slower rate, for the 14th consecutive month. This marks growth in 44 of the last 45 months, with December 2022 being the one month with a decline over that period. ISM added that the overall economy, like the January Services PMI, saw growth, at a slower rate, for the 14th consecutive month as well.

The report’s benchmark metric, the PMI came in at 47.8 (a reading of 50 or higher indicates growth), down 1.3% compared to January’s 49.1 reading, contracting, at a faster rate, for the 16th consecutive month.

The report’s benchmark metric, the PMI came in at 47.8 (a reading of 50 or higher indicates growth), down 1.3% compared to January’s 49.1 reading, contracting, at a faster rate, for the 16th consecutive month.

The Services PMI, at 53.4 (a reading of 50 or higher signals growth), was up 2.9% in January, growing, at a faster rate, for the 13th consecutive month. This marks growth in 43 of the last 44 months, with December 2022 being the one month with a decline over that period. ISM added that the overall economy, like the January Services PMI, saw growth, at a faster rate, for the 13th consecutive month as well.

The Services PMI, at 53.4 (a reading of 50 or higher signals growth), was up 2.9% in January, growing, at a faster rate, for the 13th consecutive month. This marks growth in 43 of the last 44 months, with December 2022 being the one month with a decline over that period. ISM added that the overall economy, like the January Services PMI, saw growth, at a faster rate, for the 13th consecutive month as well.

The January PMI is 1.9% above the 12-month average of 47.2, with January 2024 marking the high for that period, at 49.1, and June 2023, at 46.4, marking the lowest.

The report’s benchmark metric, the PMI, came in at 49.1 (a reading of 50 or higher indicates growth), up 2.0% over January’s 47.1 reading, contracting, at a slower rate, for the 15th consecutive month. The past 15 months of contraction were preceded by a stretch of 28 consecutive months of growth. ISM also said that the overall economy grew in January, at a faster rate, for the 45th consecutive month.

The Services PMI, at 50.6 (a reading of 50 or higher signals growth), fell 2.1% compare to November’s 52.7 reading, growing, at a slower rate, for the 12th consecutive month. ISM observed that the services sector and the overall economy have each been growing, at a slower rate, for the 12th consecutive month, through December.

The report’s benchmark metric, the PMI, came in at 47.4 (a reading of 50 or higher indicates growth), up 0.7% over November’s 46.7, contracting, at a slower rate, for the 14th consecutive month.

Even though the manufacturing and service sectors have been on diverging paths in 2023, with manufacturing having contracted for 13 consecutive months and services having grown for 11 consecutive months, respectively, through November,one common theme they share is expectations for growth in 2022. That is a key takeaway from the Institute for Supply Management’s (ISM) December 2023 Semiannual Economic Forecast.

November services economy activity remained in growth mode, according to the new edition of the ISM Report on Business, which was issued Tuesday by the Institute for Supply Management (ISM).