ISM services PMI at 53.5

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Source: Dukascopy Bank SA
The U.S. services sector continued its expansion for the eighth consecutive month in February, with the Services PMI® registering 53.5%, up from 52.8% in January. This indicates ongoing growth since the recovery from the pandemic-induced recession began in June 2020. The Business Activity Index was at 54.4%, slightly down from 54.5% in January, but marking the 57th month of expansion. The New Orders Index rose to 52.2%, up 0.9 percentage points from January, signaling increased demand for services.

The Employment Index remained in expansion territory at 53.9%, a 1.6 percentage point increase compared to January, indicating continued hiring in the sector. The Supplier Deliveries Index increased to 53.4%, signaling slower deliveries as demand grows, a typical trend in an expanding economy. Meanwhile, the Prices Index climbed to 62.6%, marking a third consecutive month above 60%, suggesting inflationary pressures in the services sector.



The Inventories Index returned to expansion, reaching 50.6%, while the Inventory Sentiment Index rose to 54.7%, signaling optimism about inventory levels. Notably, the Backlog of Orders Index surged to 51.7%, its highest reading since July 2023, showing that demand is outpacing businesses' ability to fulfill orders.

Despite the overall positive outlook, there were concerns about potential impacts from tariffs and federal spending cuts. However, 14 industries reported growth, and the services sector has expanded in 54 of the last 57 months, indicating strong and consistent recovery.
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Wed, 12 Mar 2025 12:50:28 GMT

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