Inside Supply Management Magazine

May/June 2023

April 2023 ISM® Report On Business®: Services

May 08, 2023

In April, the Services PMI® registered 51.9 percent, a 0.7-percentage point increase compared to the March reading of 51.2 percent. A reading above 50 percent indicates the services sector economy is generally expanding; below 50 percent indicates it is generally contracting. A Services PMI® above 49.9 percent, over time, generally indicates an expansion of the overall economy. Therefore, the April Services PMI® indicates the overall economy is growing for the fourth consecutive month after one month of contraction in December.


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