Services PMI® at 52%
August 2025 ISM® Services PMI® Report
Business Activity Index at 55%
New Orders Index at 56%
Employment Index at 46.5%
Supplier Deliveries Index at 50.3%
(Tempe, Arizona) — Economic activity in the services sector grew in August for the third consecutive month, say the nation's purchasing and supply executives in the latest ISM® Services PMI® Report. The Services PMI® indicated expansion at 52 percent, above the 50-percent breakeven point for the 13th time in the last 14 months.
The report was issued today by Steve Miller, CPSM, CSCP, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee: “In August, the Services PMI® registered 52 percent, 1.9 percentage points higher than the July figure of 50.1 percent and in expansion territory for the third month in a row. The Business Activity Index remained in expansion in August, registering 55 percent, 2.4 percentage points higher than the reading of 52.6 percent recorded in July. This index has not been in contraction territory since May 2020. The New Orders Index also remained in expansion in August, with a reading of 56 percent, up 5.7 percent from July’s figure of 50.3 percent. The Employment Index was in contraction territory for the third month in a row and the fifth time in the last six months; the reading of 46.5 percent is 0.1 percentage point higher than the 46.4 percent recorded in July.
“The Supplier Deliveries Index registered 50.3 percent, 0.7 percentage point lower than the 51 percent recorded in July and matching the June reading. This is the ninth consecutive month that the index has been in expansion territory, indicating slower supplier delivery performance. (Supplier Deliveries is the only ISM® PMI® Reports index that is inversed; a reading of above 50 percent indicates slower deliveries, which is typical as the economy improves and customer demand increases.)
“The Prices Index registered 69.2 percent in August, a 0.7-percentage point decrease from July’s reading of 69.9 percent. The index has exceeded 60 percent for nine straight months, its longest such streak since 30 consecutive readings above 60 percent from October 2020 to March 2023.
“The Inventories Index was in expansion territory in August for its third month in a row, registering 53.2 percent, an increase of 1.4 percentage points from July’s figure of 51.8 percent. The Inventory Sentiment Index expanded for the 28th consecutive month, registering 55.5 percent, up 2.3 percentage points from July’s figure of 53.2 percent. The Backlog of Orders Index was in contraction territory for the sixth month in a row, registering 40.4 percent in August, 3.9-percentage points below the July figure of 44.3 percent and the lowest reading since May 2009 (40 percent).
“Twelve industries reported growth in August, one more than in July. The Services PMI® has expanded in 11 of the last 12 months, but the August reading of 52 percent is 0.4 percentage point below the 12-month average reading of 52.4 percent.”
Miller continues, “August’s Services PMI® level showed greater strength, driven by faster expansion rates for the Business Activity and New Orders indexes. Offsetting these positive indicators, however, are continued contraction in the Employment Index, a 16-year low for the Backlog of Orders Index, and the Prices Index remaining near 70 percent. Commentary once again was led by respondents’ increasing citations of tariff impacts, with some indication that business activity and imports are being driven by an attempt to get ahead of additional price increases while preparing for the holiday peak season.”
INDUSTRY PERFORMANCE
The 12 services industries reporting growth in August — listed in order — are: Information; Wholesale Trade; Arts, Entertainment & Recreation; Mining; Transportation & Warehousing; Educational Services; Professional, Scientific & Technical Services; Retail Trade; Utilities; Health Care & Social Assistance; Public Administration; and Real Estate, Rental & Leasing. The four industries reporting a contraction in the month of August are: Accommodation & Food Services; Management of Companies & Support Services; Other Services; and Construction.
WHAT RESPONDENTS ARE SAYING
- “We are starting to see the impact of tariffs on the cost of imported goods. For our company, this is primarily for goods from Asia and South America. We expect to see the full effect of tariffs in our cost of goods sold by October.” [Accommodation & Food Services]
- “Tariffs are starting to become a factor in our pricing to specific markets. We are an importer from Europe. The intention is not to pass on these costs, but it’s getting harder as this goes on.” [Agriculture, Forestry, Fishing & Hunting]
- “Tariffs continue to loom, and providers are starting to include references to tariffs when requesting price increases.” [Finance & Insurance]
- “While our overall spending approach is to remain cautious while waiting out the effects of the new tariff policies on commodity pricing, we expect fiscal year 2026 to be positive.” [Management of Companies & Support Services]
- “Business continues to remain flat.” [Other Services]
- “Business growth continues to be strong as companies work to understand costs of expanding U.S. operations.” [Professional, Scientific & Technical Services]
- “Locally, prices have and are continuing to rise on goods and services that do not appear to be directly impacted by tariffs.” [Public Administration]
- “Our company had the strongest quarter in its history since it became a public company in 2020. Revenue is increasing due to M&A activity and in spite of a slow housing market and increasing tariffs.” [Real Estate, Rental & Leasing]
- “It’s all about country specific tariff management. All decision making is currently dominated by tariff considerations.” [Retail Trade]
- “Business overall is tightening. Most customers are extremely price conscious.” [Transportation & Warehousing]
ISM® SERVICES SURVEY RESULTS AT A GLANCE COMPARISON OF ISM® SERVICES AND ISM® MANUFACTURING SURVEYS*
AUGUST 2025
Services PMI® | Manufacturing PMI® | ||||||||
---|---|---|---|---|---|---|---|---|---|
Index | Series Index Aug | Series Index Jul | Percent Point Change | Direction | Rate of Change | Trend** (Months) | Series Index Aug | Series Index Jul | Percent Point Change |
Services PMI® | 52.0 | 50.1 | +1.9 | Growing | Faster | 3 | 48.7 | 48.0 | +0.7 |
Business Activity/ Production | 55.0 | 52.6 | +2.4 | Growing | Faster | 3 | 47.8 | 51.4 | -3.6 |
New Orders | 56.0 | 50.3 | +5.7 | Growing | Faster | 3 | 51.4 | 47.1 | +4.3 |
Employment | 46.5 | 46.4 | +0.1 | Contracting | Slower | 3 | 43.8 | 43.4 | +0.4 |
Supplier Deliveries | 50.3 | 51.0 | -0.7 | Slowing | Slower | 9 | 51.3 | 49.3 | +2.0 |
Inventories | 53.2 | 51.8 | +1.4 | Growing | Faster | 3 | 49.4 | 48.9 | +0.5 |
Prices | 69.2 | 69.9 | -0.7 | Increasing | Slower | 99 | 63.7 | 64.8 | -1.1 |
Backlog of Orders | 40.4 | 44.3 | -3.9 | Contracting | Faster | 6 | 44.7 | 46.8 | -2.1 |
New Export Orders | 47.3 | 47.9 | -0.6 | Contracting | Faster | 2 | 47.6 | 46.1 | +1.5 |
Imports | 54.6 | 45.9 | +8.7 | Growing | From Contracting | 1 | 46.0 | 47.6 | -1.6 |
Inventory Sentiment | 55.5 | 53.2 | +2.3 | Too High | Faster | 28 | N/A | N/A | N/A |
Customers' Inventories | N/A | N/A | N/A | N/A | N/A | N/A | 44.6 | 45.7 | -1.1 |
Overall Economy | Growing | Faster | 63 | ||||||
Services Sector | Growing | Faster | 3 |
ISM® Services PMI® Report data is seasonally adjusted for the Business Activity, New Orders, Employment and Prices indexes. ISM® Manufacturing PMI® Report data is seasonally adjusted for New Orders, Production, Employment and Inventories indexes.
**Number of months moving in current direction.
COMMODITIES REPORTED UP/DOWN IN PRICE AND IN SHORT SUPPLY
Commodities Up in Price
Aluminum (4); Aluminum Products (3); Copper Products; Electrical Components; Equipment; Labor; Maintenance; Office Supplies; Software (2); Software — Licensing (3); Software Maintenance (2); and Steel Products (8).
Commodities Down in Price
Diesel Fuel (6); and Gasoline (6).
Commodities in Short Supply
Labor — Construction.
Note: The number of consecutive months the commodity is listed is indicated after each item.
AUGUST 2025 SERVICES INDEX SUMMARIES
Services PMI®
In August, the Services PMI® registered 52 percent, a 1.9-percentage point increase compared to the July reading of 50.1 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 48.6 percent, over time, generally indicates an expansion of the overall economy. Therefore, the August Services PMI® indicates the overall economy is expanding for the 63rd straight month. Miller says, “The past relationship between the Services PMI® and the overall economy indicates that the Services PMI® for August (52 percent) corresponds to a 1.1-percentage point increase in real gross domestic product (GDP) on an annualized basis.”
Services PMI® HISTORY
Month | Services PMI® |
---|---|
Aug 2025 | 52.0 |
Jul 2025 | 50.1 |
Jun 2025 | 50.8 |
May 2025 | 49.9 |
Apr 2025 | 51.6 |
Mar 2025 | 50.8 |
Month | Services PMI® |
---|---|
Feb 2025 | 53.5 |
Jan 2025 | 52.8 |
Dec 2024 | 54.0 |
Nov 2024 | 52.5 |
Oct 2024 | 55.8 |
Sep 2024 | 54.5 |
55.8
49.9
Business Activity
ISM®’s Business Activity Index remained in expansion territory with a reading of 55 percent in August, 2.4 percentage points higher than its reading of 52.6 percent recorded in July. The Business Activity Index has not been in contraction territory since May 2020. Comments from respondents include: “Very good movie content drove higher volumes” and “We've seen an increase in work activity heading into the pre-holiday season.”
The nine industries reporting an increase in business activity for the month of August — listed in order — are: Mining; Information; Wholesale Trade; Arts, Entertainment & Recreation; Transportation & Warehousing; Health Care & Social Assistance; Professional, Scientific & Technical Services; Retail Trade; and Educational Services. The three industries reporting a decrease in business activity for the month of August are: Real Estate, Rental & Leasing; Construction; and Accommodation & Food Services. Six industries reported no change in business activity in August.
Business Activity | % Higher | % Same | % Lower | Index |
---|---|---|---|---|
Aug 2025 | 22.8 | 63.0 | 14.2 | 55.0 |
Jul 2025 | 23.7 | 61.9 | 14.4 | 52.6 |
Jun 2025 | 21.7 | 63.0 | 15.3 | 54.2 |
May 2025 | 21.7 | 61.1 | 17.2 | 50.0 |
New Orders
ISM®’s New Orders Index registered 56 percent in August, 5.7 percentage points higher than the reading of 50.3 percent reported in July. The index has been in expansion territory in 30 of the last 32 months. Comments from respondents include: “Data center construction is driving the increase in order activity” and “Getting merchandise into the U.S. ahead of effective dates of tariff increases.”
The 13 industries reporting an increase in new orders for the month of August — listed in order — are: Wholesale Trade; Educational Services; Arts, Entertainment & Recreation; Information; Transportation & Warehousing; Retail Trade; Utilities; Management of Companies & Support Services; Health Care & Social Assistance; Finance & Insurance; Public Administration; Professional, Scientific & Technical Services; and Real Estate, Rental & Leasing. The two industries reporting a decrease in new orders for the month of August are: Construction; and Accommodation & Food Services.
New Orders | % Higher | % Same | % Lower | Index |
---|---|---|---|---|
Aug 2025 | 27.2 | 56.6 | 16.2 | 56.0 |
Jul 2025 | 19.9 | 61.4 | 18.7 | 50.3 |
Jun 2025 | 17.0 | 66.7 | 16.3 | 51.3 |
May 2025 | 20.4 | 56.9 | 22.7 | 46.4 |
Employment
Employment activity in the services sector was in contraction territory in August for the third month in a row. The Employment Index registered 46.5 percent, up 0.1 percentage point from the July figure of 46.4 percent. Comments from respondents include: “Recent acquisitions are increasing head count, along with modest organic head-count growth in certain areas of the company” and “Staffing is adequate, but work hours are down due to softer traffic and sales.”
The two industries reporting an increase in employment in August are: Real Estate, Rental & Leasing; and Utilities. The nine industries reporting a decrease in employment in August — listed in order — are: Accommodation & Food Services; Management of Companies & Support Services; Educational Services; Other Services; Transportation & Warehousing; Health Care & Social Assistance; Finance & Insurance; Public Administration; and Professional, Scientific & Technical Services. Seven industries reported no change in employment in August.
Employment | % Higher | % Same | % Lower | Index |
---|---|---|---|---|
Aug 2025 | 10.3 | 72.9 | 16.8 | 46.5 |
Jul 2025 | 12.3 | 69.6 | 18.1 | 46.4 |
Jun 2025 | 10.9 | 76.0 | 13.1 | 47.2 |
May 2025 | 14.3 | 72.5 | 13.2 | 50.7 |
Supplier Deliveries
In August, the Supplier Deliveries Index indicated slower supplier performance for the ninth month in a row. The index registered 50.3 percent, down 0.7 percentage point from the 51 percent recorded in July. A reading above 50 percent indicates slower deliveries, while a reading below 50 percent indicates faster deliveries. Comments from respondents include: “It appears most manufacturers are finally back to pre-COVID-19 lead times” and “Shortage of a vendor’s inventoried goods has affected the on-time delivery of needed supplies.”
The six industries reporting slower deliveries in August — in the following order — are: Educational Services; Management of Companies & Support Services; Public Administration; Information; Wholesale Trade; and Professional, Scientific & Technical Services. The five industries reporting faster supplier deliveries for the month of August are: Retail Trade; Transportation & Warehousing; Utilities; Health Care & Social Assistance; and Construction. Seven industries reported no change in Supplier Deliveries in August.
Supplier Deliveries | % Slower | % Same | % Faster | Index |
---|---|---|---|---|
Aug 2025 | 4.5 | 91.5 | 4.0 | 50.3 |
Jul 2025 | 6.3 | 89.4 | 4.3 | 51.0 |
Jun 2025 | 5.5 | 89.5 | 5.0 | 50.3 |
May 2025 | 9.0 | 87.0 | 4.0 | 52.5 |
Inventories
The Inventories Index registered in expansion territory for the sixth time in 2025. The reading of 53.2 percent is a 1.4-percentage point increase compared to the 51.8 percent reported in July. Of the total respondents in August, 27 percent indicated they do not have inventories or do not measure them. Comments from respondents include: “We have been making strategic buys of critical components to build a safety stock in response to extended lead times and anticipated price increases in the fourth quarter” and “As lead times continue to improve, we are reducing our inventory of finished goods and expect to continue doing so.”
The six industries reporting an increase in inventories in August — in the following order — are: Mining; Retail Trade; Wholesale Trade; Management of Companies & Support Services; Construction; and Information. The five industries reporting a decrease in inventories in August are: Public Administration; Educational Services; Transportation & Warehousing; Professional, Scientific & Technical Services; and Utilities. Seven industries reported no change in inventories for the month of August.
Inventories | % Higher | % Same | % Lower | Index |
---|---|---|---|---|
Aug 2025 | 19.3 | 67.7 | 13.0 | 53.2 |
Jul 2025 | 16.1 | 71.4 | 12.5 | 51.8 |
Jun 2025 | 14.1 | 77.2 | 8.7 | 52.7 |
May 2025 | 17.7 | 64.0 | 18.3 | 49.7 |
Prices
Prices paid by services organizations for materials and services increased in August for the 99th consecutive month. The Prices Index registered 69.2 percent, 0.7 percentage point lower than the 69.9 percent recorded in July. The August reading is the index’s second-highest since November 2022 (69.4 percent) and its ninth straight month above 60 percent but the 34th in a row below 70 percent.
Sixteen of the 18 services industries reported an increase in prices paid during the month of August, in the following order: Mining; Accommodation & Food Services; Information; Wholesale Trade; Public Administration; Health Care & Social Assistance; Educational Services; Real Estate, Rental & Leasing; Management of Companies & Support Services; Professional, Scientific & Technical Services; Finance & Insurance; Other Services; Retail Trade; Construction; Utilities; and Transportation & Warehousing. No industry reported a decrease in prices paid in August.
Prices | % Higher | % Same | % Lower | Index |
---|---|---|---|---|
Aug 2025 | 36.7 | 60.7 | 2.6 | 69.2 |
Jul 2025 | 42.1 | 53.9 | 4.0 | 69.9 |
Jun 2025 | 38.0 | 59.9 | 2.1 | 67.5 |
May 2025 | 45.3 | 51.4 | 3.3 | 68.7 |
NOTE: Commodities reported as up in price and down in price are listed in the commodities section of this report.
Backlog of Orders
The ISM® Services Backlog of Orders Index was in contraction territory for the sixth consecutive month, and the reading of 40.4 percent was a 3.9-percentage point decrease compared to the 44.3 percent reported in July and the lowest since May 2009 (40 percent). Of the total respondents in August, 26 percent indicated they do not measure backlog of orders. Respondent comments include: “New focus on patient self-service for appointment scheduling across multiple specialties” and “Our back orders are very small; customers are ordering under forecast.”
The three industries reporting an increase in order backlogs in August are: Educational Services; Information; and Professional, Scientific & Technical Services. The 10 industries reporting a decrease in order backlogs in August — in the following order — are: Agriculture, Forestry, Fishing & Hunting; Real Estate, Rental & Leasing; Finance & Insurance; Construction; Public Administration; Retail Trade; Wholesale Trade; Management of Companies & Support Services; Health Care & Social Assistance; and Utilities.
Backlog of Orders | % Higher | % Same | % Lower | Index |
---|---|---|---|---|
Aug 2025 | 6.9 | 67.0 | 26.1 | 40.4 |
Jul 2025 | 8.3 | 72.0 | 19.7 | 44.3 |
Jun 2025 | 6.8 | 71.2 | 22.0 | 42.4 |
May 2025 | 8.1 | 70.5 | 21.4 | 43.4 |
New Export Orders
Orders and requests for services and other non-manufacturing activities to be provided outside of the U.S. by domestically based companies contracted in August for the fifth time in 2025. The New Export Orders Index registered 47.3 percent, down 0.6 percentage point compared to the July reading of 47.9 percent. Of the total respondents in August, 39 percent indicated they do not perform, or do not separately measure, orders for work outside of the U.S. Respondent comments include: “Recovery outside of U.S. has seen greater improvement” and “Lower activity due to the nature of the project cycle — working off current projects, while others are emerging.”
The three industries reporting an increase in new export orders in August are: Other Services; Information; and Wholesale Trade. The six industries reporting a decrease in new export orders in August — in the following order — are: Retail Trade; Construction; Accommodation & Food Services; Finance & Insurance; Educational Services; and Health Care & Social Assistance. Nine industries reported no change in exports in August.
New Export Orders | % Higher | % Same | % Lower | Index |
---|---|---|---|---|
Aug 2025 | 11.5 | 71.6 | 16.9 | 47.3 |
Jul 2025 | 10.4 | 74.9 | 14.7 | 47.9 |
Jun 2025 | 10.2 | 81.7 | 8.1 | 51.1 |
May 2025 | 14.4 | 68.1 | 17.5 | 48.5 |
Imports
The Imports Index returned to expansion territory in August, registering 54.6 percent, 8.7 percentage points higher than the 45.9 percent reported in July. This month’s reading is the highest since January 2024 (59.9 percent), well before current tariff levels were in effect. Thirty-seven percent of respondents reported that they do not use, or do not track the use of, imported materials. Respondent comments include: “Transitioning to imported packaging, which is still cost effective even with the tariff increases” and “Rather than purchasing routers from Europe, the Middle East and Africa, we’re configuring in the U.S. and shipping to other North American countries.”
The eight industries reporting an increase in imports for the month of August — in the following order — are: Mining; Management of Companies & Support Services; Information; Retail Trade; Utilities; Health Care & Social Assistance; Wholesale Trade; and Professional, Scientific & Technical Services. The three industries reporting a decrease in imports in August are: Educational Services; Other Services; and Transportation & Warehousing. Seven industries reported no change in imports in August.
Imports | % Higher | % Same | % Lower | Index |
---|---|---|---|---|
Aug 2025 | 18.9 | 71.3 | 9.8 | 54.6 |
Jul 2025 | 4.1 | 83.5 | 12.4 | 45.9 |
Jun 2025 | 14.0 | 75.3 | 10.7 | 51.7 |
May 2025 | 12.3 | 71.8 | 15.9 | 48.2 |
Inventory Sentiment
The ISM® Services Inventory Sentiment Index indicated that inventories of raw materials were “too high” for the 28th consecutive month in August, with a reading of 55.5 percent, an increase of 2.3 percentage points from July’s figure of 53.2 percent. This reading indicates that respondents feel their companies’ inventory levels are too high when correlated to business requirements.
The nine industries reporting sentiment that their inventories were too high in August — listed in order — are: Retail Trade; Wholesale Trade; Information; Utilities; Construction; Public Administration; Management of Companies & Support Services; Health Care & Social Assistance; and Educational Services. The two industries reporting a decrease in order backlogs in August are: Transportation & Warehousing; and Professional, Scientific & Technical Services. Seven industries reported no change in inventory sentiment in August.
Inventory Sentiment | % Too High | % About Right | % Too Low | Index |
---|---|---|---|---|
Aug 2025 | 15.0 | 80.9 | 4.1 | 55.5 |
Jul 2025 | 17.8 | 70.8 | 11.4 | 53.2 |
Jun 2025 | 16.9 | 80.4 | 2.7 | 57.1 |
May 2025 | 30.7 | 64.3 | 5.0 | 62.9 |
About This Report
DO NOT CONFUSE THIS NATIONAL REPORT with the various regional purchasing reports released across the country. The national report's information reflects the entire U.S., while the regional reports contain primarily regional data from their local vicinities. Also, the information in the regional reports is not used in calculating the results of the national report. The information compiled in this report is for the month of August 2025.
The data presented herein is obtained from a survey of supply executives in the services sector based on information they have collected within their respective organizations. ISM® makes no representation, other than that stated within this release, regarding the individual company data collection procedures. The data should be compared to all other economic data sources when used in decision-making.
Data and Method of Presentation
The ISM® Services PMI® Report (formerly the Non-Manufacturing ISM® Report On Business®) is based on data compiled from purchasing and supply executives nationwide. Membership of the Services Business Survey Panel (formerly Non-Manufacturing Business Survey Committee) is diversified by the North American Industry Classification System (NAICS), based on each industry’s contribution to gross domestic product (GDP). The Services Business Survey Panel responses are divided into the following NAICS code categories: Agriculture, Forestry, Fishing & Hunting; Mining; Utilities; Construction; Wholesale Trade; Retail Trade; Transportation & Warehousing; Information; Finance & Insurance; Real Estate, Rental & Leasing; Professional, Scientific & Technical Services; Management of Companies & Support Services; Educational Services; Health Care & Social Assistance; Arts, Entertainment & Recreation; Accommodation & Food Services; Public Administration; and Other Services (services such as Equipment & Machinery Repairing; Promoting or Administering Religious Activities; Grantmaking; Advocacy; and Providing Dry-Cleaning & Laundry Services, Personal Care Services, Death Care Services, Pet Care Services, Photofinishing Services, Temporary Parking Services, and Dating Services). The data are weighted based on each industry’s contribution to GDP. According to U.S. Bureau of Economic Analysis (BEA) estimates (the average of the fourth quarter 2023 GDP estimate and the GDP estimates for first, second, and third quarter 2024, as released on December 19, 2024), the six largest services sectors are: Real Estate, Rental & Leasing; Public Administration; Professional, Scientific, & Technical Services; Health Care & Social Assistance; Information; and Finance & Insurance.
Survey responses reflect the change, if any, in the current month compared to the previous month. For each of the indicators measured (Business Activity, New Orders, Backlog of Orders, New Export Orders, Inventory Change, Inventory Sentiment, Imports, Prices, Employment and Supplier Deliveries), this report shows the percentage reporting each response and the diffusion index. Responses represent raw data and are never changed. Data is seasonally adjusted for Business Activity, New Orders, Prices and Employment. All seasonal adjustment factors are subject annually to relatively minor changes when conditions warrant them. The remaining indexes have not indicated significant seasonality.
The Services PMI® is a composite index based on the diffusion indexes for four of the indicators with equal weights: Business Activity (seasonally adjusted), New Orders (seasonally adjusted), Employment (seasonally adjusted) and Supplier Deliveries. Diffusion indexes have the properties of leading indicators and are convenient summary measures showing the prevailing direction of change and the scope of change. An index reading above 50 percent indicates that the services economy is generally expanding; below 50 percent indicates that it is generally declining. Supplier Deliveries is an exception. A Supplier Deliveries Index above 50 percent indicates slower deliveries and below 50 percent indicates faster deliveries.
A Services PMI® above 48.6 percent, over time, indicates that the overall economy, or gross domestic product (GDP), is generally expanding; below 48.6 percent, it is generally declining. The distance from 50 percent or 48.6 percent is indicative of the strength of the expansion or decline.
The ISM® Services PMI® Report survey is sent out to Services Business Survey Panel respondents in the first part of each month. Respondents are asked to ONLY report on U.S. operations for the current month. ISM® receives survey responses throughout most of any given month, with the majority of respondents generally waiting until late in the month to submit responses to give the most accurate picture of current business activity. ISM® then compiles the report for release on the third business day of the following month.
The industries reporting growth, as indicated in the ISM® Services PMI® Report, are listed in the order of most growth to least growth. For the industries reporting contraction or decreases, those are listed in the order of the highest level of contraction/decrease to the least level of contraction/decrease.
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About Institute for Supply Management®
Institute for Supply Management® (ISM®) is the first and leading not-for-profit professional supply management organization worldwide. Its community of more than 50,000 in more than 100 countries around the world manage about US$1 trillion in corporate and government supply chain procurement annually. Founded in 1915 by practitioners, ISM is committed to advancing the strategy and practice of integrated, end-to-end supply chain management through leading edge data-driven resources, community, and education to empower individuals, create organizational value and to drive competitive advantage. ISM’s vision is to foster a prosperous, sustainable world. ISM empowers and leads the profession through the ISM® PMI® Reports (formerly Report On Business®), its highly-regarded certification and training programs, corporate services, events and assessments. The ISM® PMI® Reports — Manufacturing, Services, and Hospital — are three of the most reliable economic indicators available, providing guidance to supply management professionals, economists, analysts, and government and business leaders. For more information, please visit: www.ismworld.org.
The full text version of the ISM® Services PMI® Report is posted on ISM®'s website at www.ismrob.org on the third business day* of every month after 10:00 a.m. ET. The one exception is in January, the report is released on the fourth business day of the month.
The next ISM® Services PMI® Report featuring September 2025 data will be released at 10:00 a.m. ET on Friday, October 3, 2025.
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