Financial News: U.S. Services PMI Rises To Six-Month High In

U.S. Services PMI Rises To Six-Month High In August

09/03/2026 - 11:00:00 (RTTNews)

(RTTNews) - Service sector growth in the U.S. accelerated more than expected in the month of August, the Institute for Supply Management revealed in a report released on Thursday.

The ISM said its services PMI rose to 55.4 in August from 54.1 in July, with a reading above 50 indicating growth. Economists had expected the index to inch up to 54.3.

With the bigger than expected increase, the services PMI reached its highest level since hitting 56.1 in February.

The advance by the headline index partly reflected a notable acceleration in the pace of growth in new orders, as the new orders index surged to 60.9 in August from 57.2 in July, reaching its highest level since February 2023.

The business activity index also shot up to 61.7 in August from 59.1 in July, jumping to its highest reading since November 2022.

The report said the employment index also inched up to 47.8 in August after tumbling to 47.4 in July, although the reading below 50 indicates the second straight month of contraction.

The ISM also said the prices index jumped to 72.6 in August from 70.3 in July, breaking the 70-percent threshold for the fifth time in six months and hitting its highest level since August 2022.

A separate report released by the ISM on Tuesday showed a modest slowdown in the pace of growth in U.S. manufacturing activity in the month of August.

The ISM said its manufacturing PMI dipped to 54.6 in August from 55.6 in July, although a reading above 50 still indicates growth. Economists had expected the index to edge down to 55.2.

The modest pullback by the manufacturing PMI came a month after it reached its highest level since hitting 55.9 in May 2022.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Australia Rate Decision On Tap For Tuesday (01 hr(s), 13 min(s), 44 sec(s) ago)
(RTTNews) - The Reserve Bank of Australia will wrap up its monetary policy meeting and then announ ...Full Story»

New Zealand Building Consents Sink 7.9% In September (01 hr(s), 54 min(s), 44 sec(s) ago)
(RTTNews) - The total number of building permits issued in New Zealand was down a seasonally adjus ...Full Story»

U.S. Construction Spending Unexpectedly Pulls Back Sharply In September (07 hr(s), 54 min(s), 44 sec(s) ago)
(RTTNews) - Construction spending in the U.S. unexpectedly pulled back sharply in the month of Sep ...Full Story»

U.S. Manufacturing Index Increases More Than Expected In October (07 hr(s), 59 min(s), 44 sec(s) ago)
(RTTNews) - The Institute for Supply Management released a report on Monday showing its reading on ...Full Story»

Greece Factory Growth Sustains In October (09 hr(s), 28 min(s), 44 sec(s) ago)
(RTTNews) - Greece's manufacturing sector logged a further improvement in operating conditions ...Full Story»

Poland Manufacturing Activity Stabilizes In October (10 hr(s), 27 min(s), 44 sec(s) ago)
(RTTNews) - Poland's manufacturing conditions remained stable in October, ending a period of d ...Full Story»

Turkish Manufacturing Downturn Deepens In October (11 hr(s), 30 min(s), 44 sec(s) ago)
(RTTNews) - The manufacturing activity in Turkey deteriorated at the fastest pace in four months i ...Full Story»

UK Manufacturing Growth Strongest In 5 Months (12 hr(s), 21 min(s), 44 sec(s) ago)
(RTTNews) - The UK manufacturing activity expanded the most in five months in October as output an ...Full Story»