ISM Services PMI Aug: 55.4index vs 54.1index expected (above expectations)
ISM Services PMI climbed to 55.4 in August from 54.1, beating the roughly 54.1 consensus. Business activity jumped to 61.7 and new orders to 60.9, while prices paid rose to 72.6, the highest since October 2022; employment remained the weak spot.
📊 Results
Actual Reading
Market Reaction
💡 Key Takeaway
Services demand accelerated sharply, but the combination of near-four-year-high prices and weak hiring complicated the Fed setup rather than delivering a clean soft-landing signal.
📖 Why This Matters
August services activity lands with the Fed's September decision on a knife-edge.
ISM Services PMI Aug actual vs expected
| Release date | Thursday, September 3, 2026 at 10:00 ET |
|---|---|
| Event type | ISM |
| Actual | 55.4index |
| Expected | 54.1index |
| Prior | 54.1index |
| Expectation surprise | above expectations |
📚 Related calendar tools and guides
FAQ
What was the ISM Services PMI Aug result?
ISM Services PMI Aug came in at 55.4index versus 54.1index expected, above expectations.
How did markets react to ISM Services PMI Aug?
Stocks rallied despite the hot activity and price details as dovish Fed commentary and lower yields led the session: S&P 500 +1.1%, Nasdaq +1.4%, Dow +1.2%.
🔗 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.