ISM Services PMI Indicates Continued Expansion in October with Rising Prices
The ISM Services PMI registered 54.5% for October 2026, marking the 28th consecutive month of expansion in the services sector. While the reading represents a slight decrease from September's 54.9%, core components like business activity and new orders remain in growth territory, despite seeing moderate declines from previous levels. Inflationary pressures persist as the Prices Index reached 73%, its seventh time exceeding the 70% threshold in eight months. While employment saw a slight uptick to 51.4%, supplier deliveries slowed significantly, suggesting increased demand and potential supply chain tightening. The report highlights a resilient services sector characterized by growing backlogs and returning strength in new export orders.