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U.S. Services Sector Growth Holds Near Expectations in September
The U.S. services sector includes businesses that provide services.
A report said these businesses grew in September.
The report’s index reading was 54.9.
That was half a point lower than in August.
It was also very close to the expected reading of 55.
The report said employment and prices both increased.
The index tracks how many purchasing managers report that their businesses are growing.
The U.S. services sector continued to grow in September, according to the Institute for Supply Management.
The ISM services index registered 54.9, indicating growth.
The September reading was down half a point from August.
The reading was essentially in line with the Dow Jones consensus estimate of 55.
Both employment and prices recorded gains during the month.
- Who
- U.S. services businesses, as measured by the Institute for Supply Management.
- What
- The services sector grew in September, with the ISM services index at 54.9.
- Where
- The United States.
- When
- September; the report was cited ahead of the October 6 trading session.
- Why
Key facts
- September ISM services index
- 54.9
- August index
- 55.4, based on the reported half-point decline
- Dow Jones consensus estimate
- 55
- Change from August
- Down 0.5 point
- Reported areas of gains
- Employment and prices
- Index description
- Measures the percentage of purchasing managers reporting growth in their businesses
Sources
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