HomeUS July ISM services index 54.1 vs 54.5 expectedUS July ISM services index 54.
1 vs 54.5 expectedNewsAdam Button23 minutes agoThe ISM services index for July 2026Prior was 54.0Prices paid 70.
3 vs 67.7 priorNew orders 57.2 vs 55.
1 priorEmployment 47.4 vs 51.2 priorBusiness activity 59.
1 vs 55.4 priorThe S&P Global final PMI for July was released shortly before this report and was at 54.6 vs 53.
6 previously, that was an 8-month high. This report missed but there were some positive signs in business activity and new orders. The big drag is employment, which fell back below 50, and in a big way.
That might reflect temporary jobs in the World Cup and USA 250 celebrations but it's somewhat worrisome to have weakening employment at the same time as rising inflation. This raises the stakes somewhat for Friday's non-farm payrolls report and adds downside risks. Today's ADP employment number was also soft.
Comments in the report:“Overall volume of business is slightly down for the year.” [Agriculture, Forestry, Fishing & Hunting]“Sales continue to slide despite increased discounts. Mounting cost pressures from all fronts.
” [Construction]“Economic conditions remain stable. Banking activity continues to be supported by healthy commercial client demand, though businesses remain cautious amid interest rate and inflation uncertainty. Overall outlook remains positive for both the banking industry and my company.
” [Finance & Insurance]“In the tertiary care segment of hospital operations, patient volumes, revenue and activity across the board are up, and given the economic climate, this was an unexpected result. Supply chains are operating as expected: There are few, if any, impactful back orders, deliveries are consistent and fill rates are up. Employment is still in high demand, yet our institution appears to be faring well as full-time employee positions are filling without excessive recruitment.
Forecast remains above average.” [Health Care & Social Assistance]“Business is starting to pick up especially with smaller firms. Just hope it keeps improving.
” [Management of Companies & Support Services]“Uncertainty on how the Iran conflict will impact the price of oil, as well as the knock-on effect to construction and other materials. The city has several capital projects pending and ongoing, which will be impacted.” [Public Administration]“Network gear supply (internet access points and switches) for store equipment set up on four- to six-month lead times; needing to place large order in anticipation of new store openings in order to have sufficient network gear to run the store.
” [Retail Trade]“Conditions are largely unchanged from last month. The exception is pricing, which continues to rise, driven mainly by fuel and labor costs. Demand remains stable.
” [Transportation & Warehousing]“Electric utility materials continue to be in high demand, causing competition among utilities for production slots. Furthermore, more suppliers are requiring progress payments or a down payment on goods as part of PO agreements.” [Utilities]“Business is more robust than expected, considering some of the economic headwinds still plaguing the industry.
Lumber supply is tighter, and freight rates and availability are challenges. Many of our builders are pushing back hard on price increases. However, the outlook is favorable for the remainder of 2026.
” [Wholesale Trade]ADVERTISEMENT - CONTINUE READING BELOWText SizeTagsUSDAdd as a preferredsource on GoogleMost PopularUS July ISM services index 54.1 vs 54.5 expectedUS S&P Global services final PMI 54.
6 vs 53.6 prelimUS July ADP national employment +44K vs +70K expectedFed's Kashkari: Would rather get going with small hikes now rather than waitinvestingLive European markets wrap: Dollar subdued, gold climbs; US stocks eyed after record-breaking dayThe jury is still out on US-Japan joint intervention on the yenGold surges above $4,100 as expectations for a US-Iran deal reduce inflation, Fed tightening riskWill the US save the Japanese yen?Drop in energy prices drive fall in Eurozone producer prices in JuneEuro area services sector drives business activity rebound in July - PMI dataADVERTISEMENT - CONTINUE READING BELOWBest in 2026SponsoredGeneral Risk WarningBest Futures Brokers in USA for 2026: Detailed ComparisonBest Prediction Market Platforms in 2026: Detailed ComparisonBest Prop Firm in 2026: Detailed ComparisonBest Forex Brokers in 2026: Detailed ComparisonBest Online Brokers in the US 2026: Detailed ComparisonADVERTISEMENT - CONTINUE READING BELOWADVERTISEMENT - CONTINUE READING BELOWTelegram CommunityGain Access