ISM: service sector growth slows in September

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The ISM services index recorded 61.9% in September; 0.2 percentage point higher than the August reading of 61.7%. This reading represents the sixteenth consecutive month of growth for the service sector, which has increased for all but two of the last 140 months.

Seventeen non-manufacturing industries recorded growth. Survey respondents noted that “transportation bottlenecks are increasing, resulting in longer delays and missed appointments.”

The business activity index registered 62.3% in August, an increase of 2.2 percentage points from the August reading of 60.1%. This represents growth for the sixteenth consecutive month.

Employment in the service sector increased in September for the third month and registered 53.0% in September, 0.7% lower than in July. Fourteen industries reported job growth for the month.

The new orders index was 63.5%, an increase of 0.3 percentage points from the August reading of 63.2%. Comments from interviewees include, “New customers have been added resulting in increased orders and business activity” and “New orders have increased due to pent-up demand online. “

The supplier shipments index registered 68.8% in September, 0.8 percentage point lower than the 69.6% recorded in August. A reading above 50% indicates slower deliveries.

Read the ISM version.


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