ISM

The April Services PMI, at 51.6 (a reading of 50 or higher signals growth) increased 0.8% over March, growing, at a faster rate, for the 10th consecutive month, and for the 56th time in the last 59 months, going back to the initial recovery from the pandemic in June 2020. It was 1.0% below the 12-month average of 52.6, with October 2024’s 55.8 and June 2024’s 49.2 marking the respective high and low readings over that period.

The report’s benchmark reading, the PMI, came in at 48.7 (a reading of 50 or higher indicates growth), down 0.3% from March’s 49.0 reading. The last two months of declines were preceded by gains, with January and February readings at 50.9 and 50.3, respectively.

The March Services PMI, at 50.8 (a reading of 50 or higher signals growth) fell 2.7% compared to February, growing, at a slower rate, for the ninth consecutive month, and for the 55th time in the last 58 months, going back to the initial recovery from the pandemic in June 2020.

The report’s benchmark reading, the PMI, came in at 49 (a reading of 50 or higher indicates growth), down 1.3% from February’s 50.3 reading. January’s PMI, at 50.9, represented the first growth month, after a 26-month run of contraction.

The February Services PMI, at 54.4 (a reading of 50 or higher signals growth) was up 0.7% compared to January, growing, at a faster rate, for the eighth consecutive month, and for the 54th time in the last 57 months, going back to the initial recovery from the pandemic in June 2020.  

The report’s benchmark reading, the PMI, came in at 50.3 (a reading of 50 or higher indicates growth), down 0.6% compared to January’s 50.9 reading. The February PMI grew, at a slower rate, for the second consecutive month in February.

President Donald Trump’s on-again, off-again threat of major tariffs on the United States’ closest allies, Canada and Mexico, have earned the thumbs down from freight officials and financial interests.

The January Services PMI, at 52.3 (a reading of 50 or higher signals growth) was down 1.2% compared to December, growing, at a slower rate, for the seventh consecutive month, and for the 53rd time in the last 56 months, going back to the initial recovery from the pandemic in June 2020.

The report’s benchmark reading, the PMI, stood at 50.9 (a reading of 50 or higher indicates growth), marking a 1.7% increase over December’s 49.2 reading. This reflects the overall economy expanding for the 57th consecutive month, following the contraction in April 2020.

The December Services PMI, at 54.1 (a reading of 50 or higher signals growth) rose 2.0% over November’s 52.1 reading, growing, at a faster rate, for the sixth consecutive month.

The report’s benchmark reading, the PMI, at 49.3 (a reading of 50 or higher indicates growth), rose 0.9% over November’s 49.3, with the PMI contracting for the ninth consecutive month and the 25th time in the last 26 months. It also noted that the overall economy has expanded, at a faster rate, for the last 56 months, since contracting in April 2020.

The paths to growth, for the manufacturing and services sectors, remain mostly mixed, according to the Institute for Supply Management’s (ISM) December 2024 ISM Supply Chain Planning Forecast, which was issued this week.

The November Services PMI, at 52.1 (a reading of 50 or higher signals growth), was down 3.9% compared to October, growing, at a slower rate, for the fifth consecutive month.

The report’s benchmark reading, the PMI, at 48.4 (a reading of 50 or higher indicates growth), increased 1.9% over October's 46.5, its lowest number in 2024, with the PMI contracting for the eighth consecutive month and the 24th time in the last 25 months, since contracting in April 2020. It added that the overall economy has expanded, at a faster rate, for the last 55 months.  

The October Services PMI, at 56.0 (a reading of 50 or higher signals growth), was up 1.1% over September, growing, at a faster rate, for the fourth consecutive month.