US Services Rise at Record Pace


The ISM Non-Manufacturing PMI index for the United States rose to 61.6 in September of 2018 from 58.5 in August, beating market expectations of 58. The reading pointed to a record growth in the services sector. Overall, companies remain positive about business conditions and the current and future economy. Concerns remain about capacity, logistics and the uncertainty with global trade.

Faster increases were seen in production (65.2 compared to 60.7); new orders (61.6 from 60.4); employment (62.4 from 56.7); inventories (54.5 from 53.5); backlogs of orders (58.5 from 56.5); new export orders (61 from 60.5). Also, supplier deliveries slowed (57 from 56) and price pressures intensified (64.2 from 62.8).

The 17 non-manufacturing industries reporting growth in September — listed in order — are: Mining; Real Estate, Rental & Leasing; Wholesale Trade; Management of Companies & Support Services; Construction; Retail Trade; Arts, Entertainment & Recreation; Professional, Scientific & Technical Services; Transportation & Warehousing; Information; Accommodation & Food Services; Health Care & Social Assistance; Public Administration; Other Services; Agriculture, Forestry, Fishing & Hunting; Finance & Insurance; and Utilities. No industry reported a decrease in September.

US Services Rise at Record Pace


ISM | Joana Taborda | joana.taborda@tradingeconomics.com
10/3/2018 2:11:11 PM