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Worth notingAgendaWed, Nov 4 ET 9:00 AM pre-market1 min read
The Institute for Supply Management's Services Purchasing Managers' Index, or ISM Services PMI, summarizes service businesses' survey responses about operating conditions. It is not a sales total or a percentage growth rate. The previous reading is 54.9; no estimate is supplied. Other recent surveys showed slower growth despite strong demand and price increases. This broad services survey offers another check on whether expansion is holding up and price pressure is easing.[1]
Last release 54.9
Look beyond the headline to new orders, employment and what businesses report paying. Stronger activity and orders could support consumer- and business-service revenues, but persistent price pressure could delay interest-rate relief for borrowers. Weaker orders would raise revenue concerns; cooler prices could help financing conditions without offsetting every earnings loss. Confirm the survey with actual sales, hiring and company results, since reported sentiment is not realized revenue.[1]