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Economic activity in the services sector expanded for the seventh consecutive month in January, say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®. The Services PMI® registered 52.8 percent, indicating expansion for the 53rd time in 56 months since recovery from the coronavirus pandemic-induced recession began in June 2020. The report was issued today by Steve Miller, CPSM, CSCP, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee: “In January, the Services PMI® registered 52.8 percent, 1.2 percentage points lower than the seasonally adjusted December figure of 54 percent. The Business Activity Index registered 54.5 percent in January, 3.5 percentage points lower than the seasonally adjusted 58 percent recorded in December. After seasonal adjustments, this is the 56th consecutive month of expansion for the index. The New Orders Index recorded a reading of 51.3 percent in January, 3.1 percentage points lower than the seasonally adjusted December figure of 54.4 percent. The Employment Index remained in expansion territory for the fourth consecutive month; the reading of 52.3 percent is a 1-percentage point increase compared to the seasonally adjusted 51.3 percent recorded in December. “The Supplier Deliveries Index registered 53 percent, 0.5 percentage point higher than the 52.5 percent recorded in December. This is the second consecutive month the index has been in expansion territory, indicating slower supplier delivery performance. (Supplier Deliveries is the only ISM® Report On Business® index that is inversed; a reading of above 50 percent indicates slower deliveries, which is typical as the economy improves and customer demand increases.) “The Prices Index registered 60.4 percent in January, a 4-percentage point decrease from December’s seasonally adjusted reading of 64.4 percent. The index has registered two consecutive readings above 60 percent after being below 60 percent since February 2024. The Inventories Index was in contraction territory in January for the third month in a row, registering 47.5 percent, a decrease of 1.9 percentage points from December’s figure of 49.4 percent. The Inventory Sentiment Index expanded for the 21st consecutive month, registering 53.5 percent, up 0.1 percentage point from December’s reading of 53.4 percent. The Backlog of Orders Index remained in contraction territory for a sixth consecutive month, registering 44.8 percent in January, a 0.5-percentage point increase from the December reading of 44.3 percent. “Fourteen industries reported growth in January, five more than the previous month’s total. The Services PMI® has expanded in 23 of the last 25 months dating back to January 2023. Th post: ISM Services 52.8, Exp. 54.0 ISM Employment 52.3, Last 51.3 ISM Prices Paid 60.4, Last 64.4 ISM New Orders 51.3, Last 54.4ISM: US services activity shrinks in January The activity in the service sector in the United States shrank in January, the Institute for Supply Management (ISM) said in its report on Wednesday. The Services Purchasing Managers' Index (PMI) fell from 54.1% in the previous month to 52.8%, below analysts' expectations. According to the report, the Business Activity Index declined by 3.5 percentage points from December and reached 54.5%. The New Orders Index decreased from 54.4% in the prior month to 51.3% in January. The Employment Index jumped by 0.1 percentage points to 52.3%. On the other hand, the Inventory Sentiment rose by 0.1 percentage points month-on-month to reach 53.5%. "Fourteen industries reported growth in January, five more than the previous month’s total … Slower growth in the Business Activity and New Orders indexes led to the lower composite index reading. Poor weather conditions were highlighted by many respondents as impacting business levels and production," ISM Services Business Survey Committee Chair Steve M