US Services Activity Expands for 28th Straight Month
ISM’s October services index stayed in expansion, while prices remained elevated and respondents flagged tariff and fuel costs.
Key takeaways
- The Services PMI registered 54.5% in October, down from 54.9% in September.
- The Prices Index was 73%, marking 113 consecutive months of rising prices.
US services activity expanded for a 28th consecutive month in October, with the ISM Services PMI at 54.5%. The index fell 0.4 percentage point from September.
The Prices Index registered 73%, down from 74% in September, but prices still increased for the 113th consecutive month. New orders slowed to 55.9 from 59.8, while the Employment Index rose to 51.4 from 50.1.
ISM Services Business Survey Committee Chair Steve Miller said tariffs and fuel costs remained the most-cited supply-chain concerns. He said many respondents had not yet seen the full impact of rising costs or passed them on to customers, pointing to further pricing pressure if those costs are not mitigated.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
