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U.S. ISM Non-Manufacturing Purchasing Managers Index (PMI)

Latest Release

Mar 05, 2025

Actual

53.5

Forecast

52.5

52.8

The Institute of Supply Management (ISM) Non-Manufacturing Purchasing Managers' Index (PMI) (also known as the ISM Services PMI) report on Business, is based on data compiled from monthly replies to questions asked of more than 370 purchasing and supply executives in over 62 different industries.

The NMI 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.

A reading above 50 percent indicates the non-manufacturing sector economy is generally expanding; below 50 percent indicates the non-manufacturing sector is generally contracting. Given the large proportion of the US economy engaged in the services sector, this report offers insights into the health of the overall US economy.

A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.

Importance:

Country:

Currency: USD

Source: Institute for Supply Managemen...

Release Date	Time	Actual	Forecast	Previous
Apr 03, 2025 (Mar)	15:00			53.5
Mar 05, 2025 (Feb)	16:00	53.5	52.5	52.8
Feb 05, 2025 (Jan)	16:00	52.8	54.2	54.0
Jan 07, 2025 (Dec)	16:00	54.1	53.5	52.1
Dec 04, 2024 (Nov)	16:00	52.1	55.5	56.0
Nov 05, 2024 (Oct)	16:00	56.0	53.8	54.9

News

Stock market today: S&P 500 jumps as US automakers get temporary tariff reprieve By Investing.com - Mar 05, 2025

Investing.com-- The S&P 500 closed higher Wednesday, after the White House announced a one-month delay for U.S. automakers that comply with the US – Mexico – Canada Agreement from the tariffs imposed...

S&P 500 cuts losses despite Alphabet slump as Treasury yields slide By Investing.com - Feb 05, 2025

Investing.com--The S&P 500 rose slightly Wednesday, as falling Treasury yields on soft economic data helped stocks shrug off a slide in Alphabet. At 12:54 p.m. ET (17:54 GMT), the Dow Jones...

Dollar on back foot; euro awaits key inflation release By Investing.com - Jan 07, 2025

Investing.com - The US dollar slipped lower Tuesday, heading towards a one-week low following a report that President-elect Donald Trump's tariffs could be less aggressive, while the euro gains ahead...

Analysis

EUR/USD Rally Faces Key Test With ECB and Payrolls Ahead By Francesco Pesole - Mar 06, 2025

EUR/USD is trading at 1.08 following gargantuan moves in European yields. At the current level, the pair is only 1.2% overvalued in our calculation, and we’d be cautious to pick a top before the ECB...

Euro Rises on Stimulus, US Dollar Wavers Amid Tariff Uncertainty—What’s Next? By Chris Turner - Mar 05, 2025

The euro EUR/USD has surged after European leaders announced big spending plans for defence and infrastructure. This comes at a time when President Trump acknowledges that tariffs are causing a...

Jobs Report Hedging Could Send Implied Volatility Soaring Today By Michael Kramer - Feb 06, 2025

Rates fell sharply yesterday following a weaker-than-expected ISM services report. The quarterly refunding announcement showed no significant shifts in how the Treasury plans to issue debt. With...

ISM Non-Manufacturing PMI Discussion

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