The ISM Services PMI for the US steadied at 53.8 in January 2026, the same as a downwardly revised 53.8 in December and better than forecasts of 53.5. The reading pointed to another robust expansion in the services sector, with a faster increase seen for business activity/production (57.4 vs 55.2) while new orders (53.1 vs 56.5), employment (50.3 vs 51.7) and supplier deliveries (54.2 vs 51.8) slowed. Inventories (45.1 vs 54.2) and backlog of orders (44 vs 42.6) remained in contraction but price pressures increased (66.6 vs 65.1). "There was more respondent commentary in January on tariff impacts and uncertainty, potentially the result of annual contract renewals and geopolitical tensions. Gasoline and diesel fuel continued to be cited as commodities down in price. With the highest Business Activity and Supplier Deliveries index readings since October 2024, whether pricing increases will stick or expand needs to be closely watched”, according to Steve Miller, Chair of the ISM. source: Institute for Supply Management

Non Manufacturing PMI in the United States remained unchanged at 53.80 points in January. Non Manufacturing PMI in the United States averaged 54.70 points from 1997 until 2026, reaching an all time high of 67.60 points in November of 2021 and a record low of 37.80 points in November of 2008. This page provides the latest reported value for - United States ISM Non Manufacturing PMI - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Non Manufacturing PMI in the United States remained unchanged at 53.80 points in January. Non Manufacturing PMI in the United States is expected to be 52.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States ISM Services PMI is projected to trend around 53.00 points in 2027, according to our econometric models.


Components Last Previous Unit Reference
ISM Services Business Activity 57.40 55.20 points Jan 2026
ISM Services Employment 50.30 51.70 points Jan 2026
ISM Services New Orders 53.10 56.50 points Jan 2026
ISM Services Prices 66.60 65.10 points Jan 2026

Related Last Previous Unit Reference
ISM Manufacturing PMI 52.60 47.90 points Jan 2026
Dallas Fed Services Index 2.70 -5.00 points Jan 2026
NY Fed Services Activity Index -16.10 -20.00 points Jan 2026


United States ISM Services PMI
The Non-Manufacturing ISM Report On Business® is based on data compiled from purchasing and supply executives nationwide. Survey responses reflect the change, if any, in the current month compared to the previous month. For each of the indicators measured (Business Activity, New Orders, Backlog of Orders, New Export Orders, Inventory Change, Inventory Sentiment, Imports, Prices, Employment and Supplier Deliveries) this report shows the percentage reporting each response, and the diffusion index. An index reading above 50 percent indicates that the non-manufacturing economy in that index is generally expanding; below 50 percent indicates that it is generally declining. Orders to the service producers make up about 90 percent of the US economy.

News Stream
US Services PMI Steadies: ISM
The ISM Services PMI for the US steadied at 53.8 in January 2026, the same as a downwardly revised 53.8 in December and better than forecasts of 53.5. The reading pointed to another robust expansion in the services sector, with a faster increase seen for business activity/production (57.4 vs 55.2) while new orders (53.1 vs 56.5), employment (50.3 vs 51.7) and supplier deliveries (54.2 vs 51.8) slowed. Inventories (45.1 vs 54.2) and backlog of orders (44 vs 42.6) remained in contraction but price pressures increased (66.6 vs 65.1). "There was more respondent commentary in January on tariff impacts and uncertainty, potentially the result of annual contract renewals and geopolitical tensions. Gasoline and diesel fuel continued to be cited as commodities down in price. With the highest Business Activity and Supplier Deliveries index readings since October 2024, whether pricing increases will stick or expand needs to be closely watched”, according to Steve Miller, Chair of the ISM.
2026-02-04
US Services Growth Highest Since 2024: ISM
The ISM Services PMI for the US increased for a third consecutive month to 54.4 in December 2025 from 52.6 in November, well above forecasts of 52.3. The reading pointed to the strongest growth in the services sector since October 2024, with all subindexes in expansion territory for the first time since February. Companies frequently mentioned impacts related to the holiday season and activity increases related to end-of-year activities or preparation for 2026. Business activity/production (56 vs 54.5), new orders (57.9 vs 52.9) and inventories (54.2 vs 53.4) rose at a faster pace while a rebound was seen in employment (52 vs 48.9), new export orders (54.2 vs 48.7) and imports (50.3 vs 48.9). Also, price pressures eased slightly (64.3 vs 65.4) and the supplier deliveries index indicated slower performance (51.8 vs 54.1).
2026-01-07
US Services Activity Rises the Most in 9-Months
The ISM Services PMI for the US edged up to 52.6 in November 2025 from 52.4 in October, pointing to the strongest growth in the services sector in nine months, and above forecasts of 52.1. The continued expansion in both business activity (54.5 vs 54.3) and new orders (52.9 vs 56.2), and the highest backlog of orders since February (49.1 vs 40.8) are positive signs of an emerging recovery for the services sector. On the downside, tariffs and the government shutdown continue to be noted by companies as impacting both demand and costs. Employment remained in contraction (48.9 vs 48.2) while the highest supplier deliveries figure since October 2024 (54.1 vs 50.8) indicates slower deliveries by suppliers, likely due to air traffic disruptions from the government shutdown and customs impacts related to changing tariffs. Meanwhile, price pressures eased to the lowest in seven months (65.4 vs 70).
2025-12-03