Services PMI® at 57.1%; April 2022 Services ISM® Report On Business®

Business Activity Index at 59.1%; New Orders Index at 54.6%; Employment Index at 49.5%; Supplier Deliveries Index at 65.1%

TEMPE, Ariz., May 4, 2022 /PRNewswire/ -- Economic activity in the services sector grew in April for the 23rd month in a row — with the Services PMI® registering 57.1 percent — say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®.

Institute for Supply Management logo. (PRNewsFoto/Institute for Supply Management)

The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee: "In April, the Services PMI® registered 57.1 percent, 1.2 percentage points lower than March's reading of 58.3 percent. The Business Activity Index registered 59.1 percent, an increase of 3.6 percentage points compared to the reading of 55.5 percent in March, and the New Orders Index figure of 54.6 percent is 5.5 percentage points lower than the March reading of 60.1 percent.

"The Supplier Deliveries Index registered 65.1 percent, 1.7 percentage points higher than the 63.4 percent reported in March. (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 reached an all-time high of 84.6 percent, up 0.8 percentage point from the March figure of 83.8 percent and surpassing the previous record of 83.9 percent in December 2021. Services businesses are continuing to replenish inventories, as the Inventories Index expanded for a third straight month; the reading of 52.3 percent is up 0.6 percentage point from March's figure of 51.7 percent. The Inventory Sentiment Index (46.7 percent, up 6.5 percentage points from March's reading of 40.2 percent) contracted in April for the second consecutive month, indicating that inventories are in 'too low' territory and insufficient for current business requirements."

Nieves continues, "According to the Services PMI®, 17 industries reported growth. The composite index indicated growth for the 23rd consecutive month after a two-month contraction in April and May 2020. Growth continues for the services sector, which has expanded for all but two of the last 147 months. There was a pullback in the composite index, mostly due to the restricted labor pool (impacting the Employment Index) and the slowing of new orders growth. Business activity remains strong; however, high inflation, capacity constraints and logistical challenges are impediments, and the Russia-Ukraine war continues to affect material costs, most notably of fuel and chemicals."

INDUSTRY PERFORMANCE

The 17 services industries reporting growth in April — listed in order — are: Construction; Utilities; Management of Companies & Support Services; Real Estate, Rental & Leasing; Accommodation & Food Services; Public Administration; Professional, Scientific & Technical Services; Educational Services; Mining; Transportation & Warehousing; Wholesale Trade; Finance & Insurance; Other Services; Health Care & Social Assistance; Retail Trade; Arts, Entertainment & Recreation; and Agriculture, Forestry, Fishing & Hunting. The only industry reporting a decrease in April is Information.

WHAT RESPONDENTS ARE SAYING
  • "Pricing pressures and product availability issues continue to be extremely problematic." [Accommodation & Food Services]
  • "Mortgage rates have skyrocketed. While relatively low from a historical perspective, the new rates — combined with historically high home prices — will temper new home demand at some point over the next 12 months." [Construction]
  • "Large construction projects have been mostly constrained due to continued supply chain issues and large cost increases. Continued shortages in account management continue to be a source of frustration for day-to-day operations and service." [Educational Services]
  • "Restrictions lifted as COVID-19 case volumes drop, allowing for more elective procedures and reduction in (average) length of stay. Freight costs are rising." [Health Care & Social Assistance]
  • "Overall business has softened." [Information]
  • "Business remains strong, only dampened by shortages in labor, increased material costs and lengthy lead times." [Management of Companies & Support Services]
  • "Talent shortages continue to make it difficult to get work done at companies across many industry sectors. Light industrial labor is in high demand, but supply gaps still exist. Wages continue to rise in nearly all labor categories, contributing to the rise in prices of goods and services." [Professional, Scientific & Technical Services]
  • "Inflation, supply chain issues and access to qualified workers continue to be issues. There are still lingering effects from the pandemic, although those seem to be subsiding. The future impacts of the war in Ukraine are unclear." [Public Administration]
  • "Continued delays due to supply chain logistics issues; increased pricing across the board." [Retail Trade]
  • "Fuel and chemicals continue to go up in price." [Utilities]
  • "Cost pressures beginning to slow demand." [Wholesale Trade]

 

ISM® SERVICES SURVEY RESULTS AT A GLANCE

COMPARISON OF ISM® SERVICES AND ISM® MANUFACTURING SURVEYS

April 2022

Index

 Services PMI®

Manufacturing PMI®

Series
Ind
ex

Apr

Series Index

Mar

Percent
Point
Change

 

 

Direction

 

Rate of
Change

 

Trend*

(Months)

Series Index

Apr

Series Index

Mar

Percent
Point
Change

Services PMI®

57.1

58.3

-1.2

Growing

Slower

23

55.4

57.1

-1.7

Business Activity/

Production

59.1

55.5

+3.6

Growing

Faster

23

53.6

54.5

-0.9

New Orders

54.6

60.1

-5.5

Growing

Slower

23

53.5

53.8

-0.3

Employment

49.5

54.0

-4.5

Contracting

From Growing

1

50.9

56.3

-5.4

Supplier Deliveries

65.1

63.4

+1.7

Slowing

Faster

35

67.2

65.4

+1.8

Inventories

52.3

51.7

+0.6

Growing

Faster

3

51.6

55.5

-3.9

Prices

84.6

83.8

+0.8

Increasing

Faster

59

84.6

87.1

-2.5

Backlog of Orders

59.4

64.5

-5.1

Growing

Slower

16

56.0

60.0

-4.0

New Export Orders

58.1

61.0

-2.9

Growing

Slower

3

52.7

53.2

-0.5

Imports

52.9

45.0

+7.9

Growing

From Contracting

1

51.4

51.8

-0.4

Inventory Sentiment

46.7

40.2

+6.5

Too Low

Slower

2

N/A

N/A

N/A

Customers' Inventories

N/A

N/A

N/A

N/A

N/A

N/A

37.1

34.1

+3.0

OVERALL ECONOMY

Growing

Slower

23


Services Sector

Growing

Slower

23


Services ISM® Report On Business® data is seasonally adjusted for the Business Activity, New Orders, Employment and Prices indexes. Manufacturing ISM® Report On Business® data is seasonally adjusted for New Orders, Production, Employment and Inventories indexes.

*Number of months moving in current direction.

COMMODITIES REPORTED UP/DOWN IN PRICE, AND IN SHORT SUPPLY

Commodities Up in Price
Aluminum; Aluminum Products (5); Chemicals; Chicken (8); Computer Equipment; Copper (2); Dairy Products; Diesel Fuel (17); Electrical Components (15); Electric Motors; Electronic Components (5); Food and Beverages; Food Products (2); Freight (12); Fuel* (16); Fuel Related Products (2); Gasoline (17); Heating, Ventilation and Air Conditioning (HVAC) Equipment; Labor (17); Labor — Contingent; Labor — Temporary (3); Maintenance, Repair and Operating MRO Supplies; Natural Gas (2); Office and Computer Supplies (2); Paper (3); Paper Products (5); Petroleum (2); Plastic Products (9); Polyvinyl Chloride (PVC) Products (8); Safety Supplies; Shipping Costs; Software Maintenance and Support; Stainless Steel Products (2); Steel; Steel Products (16); Syringe Needles; Tires; and Transportation Costs (3).

Commodities Down in Price
Fuel*.

Commodities in Short Supply
Aluminum Wire; Appliances (2); Blood Collection Tubes (3); Chips (2); Chipsets; Component Parts; Electrical Components; Electronic Components (5); Fiber Cable; Flexible Duct; Gloves; Labor (9); Labor — Construction; Labor — Temporary (2); Lab Supplies; Needles and Syringes (4); Paper Products (2); Plastic Products; Polyvinyl Chloride (PVC) Products; Semiconductors; Vacutainers; and Valves.

Note: The number of consecutive months the commodity is listed is indicated after each item. *Indicates both up and down in price.

APRIL 2022 SERVICES INDEX SUMMARIES

Services PMI®
In April, the Services PMI® registered 57.1 percent, a 1.2-percentage point decrease compared to the March reading of 58.3 percent. The 12-month average is 61.8 percent, which reflects consistently strong growth in the services sector. The April reading indicates the services sector grew for the 23rd consecutive month. A reading above 50 percent indicates the services sector economy is generally expanding; below 50 percent indicates the services sector is generally contracting.

A Services PMI® above 50.1 percent, over time, generally indicates an expansion of the overall economy. Therefore, the April Services PMI® indicates the overall economy has followed the same path as the services sector: expansion for 23 straight months following two months of contraction and a preceding period of 122 months of growth. Nieves says, "The past relationship between the Services PMI® and the overall economy indicates that the Services PMI® for April (57.1 percent) corresponds to a 2.5-percent increase in real gross domestic product (GDP) on an annualized basis."

SERVICES PMI® HISTORY

Month

Services PMI®

Month

Services PMI®

Apr 2022

57.1

Oct 2021

66.7

Mar 2022

58.3

Sep 2021

62.6

Feb 2022

56.5

Aug 2021

62.2

Jan 2022

59.9

Jul 2021

64.1

Dec 2021

62.3

Jun 2021

60.7

Nov 2021

68.4

May 2021

63.2

Average for 12 months – 61.8

High – 68.4

Low – 56.5

Business Activity

ISM®'s Business Activity Index registered 59.1 percent in April, an increase of 3.6 percentage points from the reading of 55.1 percent in March, indicating growth for the 23rd consecutive month. Comments from respondents include: "Restaurant traffic remains strong since COVID-19 cases have declined and mask restrictions were lifted" and "Activity requests from customers continues to grow, while we have had reduced head count at the same time."

The 14 industries reporting an increase in business activity for the month of April — listed in order — are: Real Estate, Rental & Leasing; Accommodation & Food Services; Educational Services; Mining; Public Administration; Utilities; Transportation & Warehousing; Professional, Scientific & Technical Services; Construction; Management of Companies & Support Services; Health Care & Social Assistance; Wholesale Trade; Other Services; and Finance & Insurance. No industry reported a decrease in business activity for the month of April.

Business Activity

%Higher

%Same

%Lower

Index

Apr 2022

37.8

55.7

6.5

59.1

Mar 2022

30.7

54.6

14.7

55.5

Feb 2022

24.4

59.3

16.3

55.1

Jan 2022

31.1

48.2

20.7

59.9

New Orders

ISM®'s New Orders Index registered 54.6 percent, down 5.5 percentage points from the March reading of 60.1 percent. New orders grew for the 23rd consecutive month after two months of contraction and a preceding period of 128 months of expansion. Comments from respondents include: "New customers added, which has led to greater sales orders and business activity" and "Market demand increasing."

Thirteen industries reported growth of new orders in April, in the following order: Utilities; Management of Companies & Support Services; Real Estate, Rental & Leasing; Accommodation & Food Services; Educational Services; Transportation & Warehousing; Professional, Scientific & Technical Services; Public Administration; Construction; Wholesale Trade; Health Care & Social Assistance; Other Services; and Finance & Insurance. The one industry reporting a decrease in new orders in April is Information.

New Orders

%Higher

%Same

%Lower

Index

Apr 2022

32.9

55.6

11.5

54.6

Mar 2022

31.0

58.0

11.0

60.1

Feb 2022

28.4

57.5

14.1

56.1

Jan 2022

27.9

58.6

13.5

61.7

Employment

Employment activity in the services sector contracted in April. ISM®'s Employment Index registered 49.5 percent, down 4.5 percentage points from the reading of 54 percent registered in March. Comments from respondents include: "Job openings exist, but finding talent to fill them remains a struggle across most industry sectors and job categories" and "Demand for employment remains hypercompetitive; there is just not enough qualified personnel available."

The 10 industries reporting an increase in employment in April — listed in order — are: Construction; Mining; Management of Companies & Support Services; Arts, Entertainment & Recreation; Professional, Scientific & Technical Services; Transportation & Warehousing; Accommodation & Food Services; Wholesale Trade; Utilities; and Finance & Insurance. The five industries that reported a reduction in employment in April are: Real Estate, Rental & Leasing; Retail Trade; Information; Educational Services; and Health Care & Social Assistance.

Employment

%Higher

%Same

%Lower

Index

Apr 2022

24.6

52.3

23.1

49.5

Mar 2022

24.9

59.4

15.7

54.0

Feb 2022

19.4

54.9

25.7

48.5

Jan 2022

18.5

63.0

18.5

52.3

Supplier Deliveries

The Supplier Deliveries Index registered 65.1 percent, up 1.7 percentage points from the 63.4 percent registered in March. A reading above 50 percent indicates slower deliveries, while a reading below 50 percent indicates faster deliveries. Comments from respondents include: "The international chip shortage is affecting the deliveries of certain technology equipment." and "Capacity, shipping and raw material issues continue to plague manufacturers." Also: "Paper products are hard to find."

The 16 industries reporting slower deliveries in April — listed in order — are: Retail Trade; Real Estate, Rental & Leasing; Utilities; Construction; Public Administration; Agriculture, Forestry, Fishing & Hunting; Finance & Insurance; Other Services; Arts, Entertainment & Recreation; Information; Educational Services; Management of Companies & Support Services; Wholesale Trade; Health Care & Social Assistance; Accommodation & Food Services; and Professional, Scientific & Technical Services. The only industry reporting faster supplier deliveries in April is Transportation & Warehousing.

Supplier Deliveries

%Slower

%Same

%Faster

Index

Apr 2022

34.0

62.2

3.8

65.1

Mar 2022

32.7

61.4

5.9

63.4

Feb 2022

35.3

61.7

3.0

66.2

Jan 2022

36.1

59.3

4.6

65.7

Inventories

The Inventories Index grew in April for the third consecutive month after eight preceding months of contraction. The reading of 52.3 percent was a 0.6-percentage point increase from the 51.7 percent reported in March. Of the total respondents in April, 39 percent indicated they do not have inventories or do not measure them. Comments from respondents include: "We built inventory levels this month due to supply chain uncertainty and anticipated higher business levels in May" and "Stocking up due to price increases, shortages, lead times and additional sales opportunities."

The eight industries reporting an increase in inventories in April — listed in order — are: Finance & Insurance; Mining; Other Services; Construction; Utilities; Wholesale Trade; Accommodation & Food Services; and Public Administration. The three industries reporting a decrease in inventories in April are: Real Estate, Rental & Leasing; Management of Companies & Support Services; and Information. Seven industries indicated no change in inventories in April.

Inventories

%Higher

%Same

%Lower

Index

Apr 2022

22.4

59.7

17.9

52.3

Mar 2022

23.1

57.1

19.8

51.7

Feb 2022

26.7

48.1

25.2

50.8

Jan 2022

15.3

68.2

16.5

49.4

Prices

Prices paid by services organizations for materials and services increased in April for the 59th consecutive month, with the index registering 84.6 percent, 0.8 percentage point higher than the March figure of 83.8 percent. This is highest reading ever, exceeding the seasonally adjusted figure of 83.9 percent registered in December 2021.

All 18 services industries reported an increase in prices paid during the month of April, in the following order: Arts, Entertainment & Recreation; Mining; Real Estate, Rental & Leasing; Wholesale Trade; Construction; Accommodation & Food Services; Management of Companies & Support Services; Educational Services; Finance & Insurance; Public Administration; Utilities; Information; Transportation & Warehousing; Professional, Scientific & Technical Services; Health Care & Social Assistance; Retail Trade; Other Services; and Agriculture, Forestry, Fishing & Hunting.

Prices

%Higher

%Same

%Lower

Index

Apr 2022

75.4

24.4

0.2

84.6

Mar 2022

72.9

26.5

0.6

83.8

Feb 2022

63.8

35.7

0.5

83.1

Jan 2022

63.1

35.2

1.7

82.3

NOTE: Commodities reported as up in price and down in price are listed in the commodities section of this report.

Backlog of Orders

The ISM® Services Backlog of Orders Index grew in April for the 16th consecutive month. The index registered 59.4 percent, a 5.1-percentage point decrease compared to the March reading of 64.5 percent. Of the total respondents in April, 44 percent indicated they do not measure backlog of orders. Respondent comments include: "Back orders are starting to improve slightly" and "Demand is outpacing supply." Also: "Supplier capacity constraints and labor shortages are delaying deliveries."

The 11 industries reporting an increase in order backlogs in April — listed in order — are: Accommodation & Food Services; Agriculture, Forestry, Fishing & Hunting; Mining; Real Estate, Rental & Leasing; Utilities; Retail Trade; Professional, Scientific & Technical Services; Public Administration; Transportation & Warehousing; Health Care & Social Assistance; and Wholesale Trade. The only industry that reported a decrease in backlogs in April is Management of Companies & Support Services. Six industries reported no change in April.

Backlog of Orders

%Higher

%Same

%Lower

Index

Apr 2022

26.4

66.1

7.5

59.4

Mar 2022

33.1

62.9

4.0

64.5

Feb 2022

34.6

59.2

6.2

64.2

Jan 2022

26.7

61.5

11.8

57.4

New Export Orders

Orders and requests for services and other non-manufacturing activities to be provided outside of the U.S. by domestically based companies grew in April for the third consecutive month after contracting in January for the first time in 12 months. The New Export Orders Index registered 58.1 percent, a 2.9-percentage point decrease from the 61 percent reported in March. Of the total respondents in April, 78 percent indicated they do not perform, or do not separately measure, orders for work outside of the U.S.

The six industries reporting an increase in new export orders in April — listed in order — are: Real Estate, Rental & Leasing; Accommodation & Food Services; Educational Services; Utilities; Retail Trade; and Transportation & Warehousing. The four industries reporting a decrease in new export orders in April are: Mining; Management of Companies & Support Services; Information; and Wholesale Trade. Eight industries indicated no change in new export orders in April.

New Export Orders

%Higher

%Same

%Lower

Index

Apr 2022

22.4

71.4

6.2

58.1

Mar 2022

29.1

63.8

7.1

61.0

Feb 2022

10.2

85.5

4.3

53.0

Jan 2022

7.3

77.2

15.5

45.9

Imports

The Imports Index grew in April after contracting in March, registering 52.9 percent, up 7.9 percentage points from March's figure of 45 percent. Eighty-one percent of respondents reported that they do not use, or do not track the use of, imported materials.

The six industries reporting an increase in imports for the month of April — listed in order — are: Retail Trade; Accommodation & Food Services; Utilities; Professional, Scientific & Technical Services; Construction; and Health Care & Social Assistance. The three industries that reported a decrease in imports in April are: Mining; Other Services; and Transportation & Warehousing. Nine industries reported no change in imports in April.

Imports

%Higher

%Same

%Lower

Index

Apr 2022

13.6

78.6

7.8

52.9

Mar 2022

11.9

66.2

21.9

45.0

Feb 2022

11.1

81.1

7.8

51.7

Jan 2022

10.5

81.1

8.4

51.1

Inventory Sentiment

The ISM® Services Inventory Sentiment Index contracted in April for the 12th time in the last 13 months, registering 46.7 percent, a 6.5-percentage point increase from March's figure of 40.2 percent. This reading indicates that respondents feel their inventories are too low when correlated to business activity levels.

The 11 industries reporting sentiment that their inventories were too high in April — listed in order — are: Agriculture, Forestry, Fishing & Hunting; Arts, Entertainment & Recreation; Mining; Other Services; Finance & Insurance; Retail Trade; Educational Services; Transportation & Warehousing; Health Care & Social Assistance; Utilities; and Wholesale Trade. The seven industries reporting a feeling that their inventories were too low in April — listed in order — are: Real Estate, Rental & Leasing; Accommodation & Food Services; Construction; Public Administration; Management of Companies & Support Services; Professional, Scientific & Technical Services; and Information.

Inventory Sentiment

%Too

High

%About Right

%Too

Low

Index

Apr 2022

21.0

51.4

27.6

46.7

Mar 2022

12.2

55.9

31.9

40.2

Feb 2022

28.7

53.2

18.1

55.3

Jan 2022

18.8

57.3

23.9

47.5

About This Report

DO NOT CONFUSE THIS NATIONAL REPORT with the various regional purchasing reports released across the country. The national report's information reflects the entire U.S., while the regional reports contain primarily regional data from their local vicinities. Also, the information in the regional reports is not used in calculating the results of the national report. The information compiled in this report is for the month of April 2022.

The data presented herein is obtained from a survey of supply executives in the services sector based on information they have collected within their respective organizations. ISM® makes no representation, other than that stated within this release, regarding the individual company data collection procedures. The data should be compared to all other economic data sources when used in decision-making.

Data and Method of Presentation

The Services ISM® Report On Business® (formerly the Non-Manufacturing ISM® Report On Business®) is based on data compiled from purchasing and supply executives nationwide. Membership of the Services Business Survey Committee (formerly Non-Manufacturing Business Survey Committee) is diversified by NAICS, based on each industry's contribution to gross domestic product (GDP). The Services Business Survey Committee responses are divided into the following NAICS code categories: Agriculture, Forestry, Fishing & Hunting; Mining; Utilities; Construction; Wholesale Trade; Retail Trade; Transportation & Warehousing; Information; Finance & Insurance; Real Estate, Rental & Leasing; Professional, Scientific & Technical Services; Management of Companies & Support Services; Educational Services; Health Care & Social Assistance; Arts, Entertainment & Recreation; Accommodation & Food Services; Public Administration; and Other Services (services such as Equipment & Machinery Repairing; Promoting or Administering Religious Activities; Grantmaking; Advocacy; and Providing Dry-Cleaning & Laundry Services, Personal Care Services, Death Care Services, Pet Care Services, Photofinishing Services, Temporary Parking Services, and Dating Services). The data are weighted based on each industry's contribution to GDP. According to the BEA estimates for 2020 GDP (released December 22, 2021), the six largest services sectors are: Real Estate, Rental & Leasing; Government; Professional, Scientific, & Technical Services; Health Care & Social Assistance; Information; and Finance & Insurance. Beginning in February 2020 with January 2020 data, computation of the indexes is accomplished utilizing unrounded numbers.

Survey responses reflect the change, if any, in the current month compared to the previous month. For each of the indicators measured (Business Activity, New Orders, Backlog of Orders, New Export Orders, Inventory Change, Inventory Sentiment, Imports, Prices, Employment and Supplier Deliveries), this report shows the percentage reporting each response and the diffusion index. Responses represent raw data and are never changed. Data is seasonally adjusted for Business Activity, New Orders, Prices and Employment. All seasonal adjustment factors are subject annually to relatively minor changes when conditions warrant them. The remaining indexes have not indicated significant seasonality.

The Services PMI® is a composite index based on the diffusion indexes for four of the indicators with equal weights: Business Activity (seasonally adjusted), New Orders (seasonally adjusted), Employment (seasonally adjusted) and Supplier Deliveries. Diffusion indexes have the properties of leading indicators and are convenient summary measures showing the prevailing direction of change and the scope of change. An index reading above 50 percent indicates that the services economy is generally expanding; below 50 percent indicates that it is generally declining. Supplier Deliveries is an exception. A Supplier Deliveries Index above 50 percent indicates slower deliveries and below 50 percent indicates faster deliveries.

A Services PMI® above 50.1 percent, over time, indicates that the overall economy, or gross domestic product (GDP), is generally expanding; below 50.1 percent, it is generally declining. The distance from 50 percent or 50.1 percent is indicative of the strength of the expansion or decline.

The Services ISM® Report On Business® survey is sent out to Services Business Survey Committee respondents the first part of each month. Respondents are asked to ONLY report on U.S. operations for the current month. ISM® receives survey responses throughout most of any given month, with the majority of respondents generally waiting until late in the month to submit responses to give the most accurate picture of current business activity. ISM® then compiles the report for release on the third business day of the following month.

The industries reporting growth, as indicated in the Services ISM® Report On Business® monthly report, are listed in the order of most growth to least growth. For the industries reporting contraction or decreases, those are listed in the order of the highest level of contraction/decrease to the least level of contraction/decrease.

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About Institute for Supply Management®

Institute for Supply Management® (ISM®) serves supply management professionals in more than 90 countries. Its 50,000 members around the world manage about US$1 trillion in corporate and government supply chain procurement annually. Founded in 1915 as the first supply management institute in the world, ISM is committed to advancing the practice of supply management to drive value and competitive advantage for its members, contributing to a prosperous and sustainable world. ISM leads the profession through the ISM Report On Business®, its highly regarded certification programs and the ISM Advance Digital Platform. This report has been issued by the association since 1931, except for a four-year interruption during World War II.

The full text version of the Services ISM® Report On Business® is posted on ISM®'s website at www.ismrob.org on the third business day* of every month after 10:00 a.m. ET.

The next Services ISM® Report On Business® featuring May 2022 data will be released at 10:00 a.m. ET on Friday, June 3, 2022.

*Unless the New York Stock Exchange is closed.

Contact:    

Kristina Cahill
Report On Business® Analyst
ISM®, ROB/Research Manager
Tempe, Arizona
+1 480.455.5910
Email: kcahill@ismworld.org

 

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SOURCE Institute for Supply Management

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