ISM Services PMI Mar: 54 vs 54.9 expected (below expectations)
The services PMI eased to 54.0 in March from 56.1 and missed the 54.9 consensus. Services stayed in expansion, but growth cooled while price pressures kept creeping up and hiring softened.
📊 Results
Actual Reading
Market Reaction
💡 Key Takeaway
Services did not roll over, but the report pointed to a less comfortable mix: slower activity with hotter prices and less labor-market momentum.
📖 Why This Matters
Services PMI: because 80% of the economy is selling things to each other.
ISM Services PMI Mar actual vs expected
| Release date | Friday, April 3, 2026 at 10:00 ET |
|---|---|
| Event type | ISM |
| Actual | 54 |
| Expected | 54.9 |
| Prior | 56.1 |
| Expectation surprise | below expectations |
📚 Related calendar tools and guides
FAQ
What was the ISM Services PMI Mar result?
ISM Services PMI Mar came in at 54 versus 54.9 expected, below expectations.
How did markets react to ISM Services PMI Mar?
Mixed reaction, with softer growth offset by sticky inflation details.
🔗 Related Events
ISM Manufacturing PMI Feb
Expansion held — PMI 52.4 (vs 52.6 prior). Second straight month above 50 but only the third time in 40 months. Factory gate inflation surged on tariff costs.
ISM Services PMI Feb
Blowout — 56.1 (vs 53.8 prior), highest since July 2022. Beat every single estimate in Bloomberg's survey. Services economy on fire despite everything.
ISM Manufacturing PMI Mar
Manufacturing improved to 52.7 in March from 52.4, beating the 52.0 consensus and marking the best reading since August 2022. Activity stayed in expansion, but supplier delays and tariff-related costs kept the inflation angle alive.