ISM Services Index · ISM Services PMI
ReleasedMonthly · 10:00 AM ET · third business day
FrequencyMonthly
Definition
A diffusion-index survey of purchasing managers across the services economy — the dominant share of U.S. activity — covering business activity, new orders, employment and prices.
Why investors care
Because services drive most of GDP and employment, this is a crucial breadth check on the expansion and a sticky-inflation tell.
What to watch
Services prices-paid runs hot and sticky; it is a favorite read on the “last mile” of inflation.