Economic activity in the services sector grew for the third consecutive month in September, according to the latest Services ISM® Report On Business®, based on insights from purchasing and supply executives. The Services PMI® reached 54.9%, the highest level since February 2023, reflecting expansion in the sector for the 49th time in 52 months.
Steve Miller, CPSM, CSCP, Chair of the ISM® Services Business Survey Committee, released the report, noting: “In September, the Services PMI® rose to 54.9%, a 3.4 percentage point increase from August's 51.5%. This marks the seventh time this year the composite index has shown growth. The Business Activity Index also climbed, registering 59.9%, up 6.6 percentage points from August’s 53.3%, signifying three straight months of expansion after a June contraction. Similarly, the New Orders Index reached 59.4%, an increase of 6.4 percentage points from August's 53%. However, the Employment Index declined, registering 48.1%, a 2.1 percentage ...
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