Services PMI® at 53.6%; April 2026 ISM® Services PMI® Report

Business Activity Index at 55.9%; New Orders Index at 53.5%; Employment Index at 48%; Supplier Deliveries Index at 56.8%

TEMPE, Ariz., May 5, 2026 /PRNewswire/ -- Economic activity in the services sector continued to expand in April, say the nation's purchasing and supply executives in the latest ISM^® Services PMI^® Report. The Services PMI^® registered 53.6 percent, the 22nd consecutive month in expansion territory.

The report was issued today by Steve Miller, CPSM, CSCP, Chair of the Institute for Supply Management^® (ISM^®) Services Business Survey Committee: "In April, the Services PMI^® registered 53.6 percent, a decrease of 0.4 percentage point compared to March's figure of 54 percent. The Business Activity Index remained in expansion territory in April, increasing 2 percentage points to 55.9 percent from March's reading of 53.9 percent. The New Orders Index registered 53.5 percent, 7.1 percentage points below March's figure of 60.6 percent and 0.4 percentage point below its 12-month average reading of 53.9 percent. The Employment Index contracted for the second month in a row with a reading of 48 percent, a 2.8-percentage point increase from the 45.2 percent recorded in March," says Miller.

"The Supplier Deliveries Index registered 56.8 percent, 0.6 percentage point higher than the 56.2 percent recorded in March. This is the 17th consecutive month that the index has been in expansion territory, indicating slower supplier delivery performance. (Supplier Deliveries is the only ISM^® PMI^® Reports 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 held steady at 70.7 percent in April, the same as March's figure and repeating its highest reading since October 2022 (70.7 percent). The index has exceeded 60 percent for 17 straight months, increasing its 12-month average from 67.2 percent to 67.7 percent. Diesel, gasoline, oil and related price increases were the most frequently mentioned commodities up in price in April.

"The Inventories Index registered 53.1 percent, down 1.7 percentage points from March's figure of 54.8 percent and its second straight month-over-month decrease. The Inventory Sentiment Index expanded for the 36th consecutive month, registering 55.1 percent, up 0.8 percentage point from March's figure of 54.3 percent, 0.6 point below its 12-month average. The Backlog of Orders Index remained in expansion territory for a third straight month for the first time since February 2023, registering 53 percent in April, a 0.6-percentage point decrease from the March figure of 53.6 percent. The New Export Orders and Imports indexes both remained in expansion territory for the third month in a row. The New Export Orders Index increased to 52.1 percent, 1.4 percentage points above its March reading of 50.7 percent, and the Imports Index registered 54.7 percent, a decrease of 0.5 percentage point compared to its March reading of 55.2 percent.

"Fourteen industries reported growth in April, one more than in March, and the number reporting contraction remained at three. The April Services PMI^® reading of 53.6 percent is 1.1 percentage points above the 12-month average of 52.5 percent. That average is an uptick of 0.2 percentage point over March's 12-month average of 52.3 percent."

Miller continues, "April's Services PMI^® features the fourth month in a row with an increase in the 12-month PMI^® average, up 0.8 percentage point from 51.7 percent in December 2025 to its current 52.5 percent. The Prices Index was flat but remained above 70 percent, amid sustained higher oil and fuel costs. The Supplier Deliveries Index indicated slower performance compared to March, coming in at 3.9 percentage points above its 12-month average. Increases in the Business Activity, Supplier Deliveries, and Employment indexes were more than offset by a 7.1 percentage point drop in the New Orders Index. Ongoing commentary that increased ordering is related to getting ahead of future price increases seems to have been more applicable to March than April; however, the Backlog of Orders Index remained in expansion territory, well above its 12-month average of 46.4 percent.

"Exports and imports activity remains strong and have expanded for three months in a row for the first time since a four-month run from July through October 2024. For the second month in a row, there are no commodities in the report listed as down in price, with aluminum, copper, lumber, petroleum products and software licensing continuing multimonth runs of being up in price. There were several comments from respondents stating that they have yet to see petroleum price increases impacting petroleum-related products, so we expect to see continued elevated readings for the Prices Index for several months — regardless of when the conflict in Iran ends — due to these costs working their ways through global supply chains."

INDUSTRY PERFORMANCE
The 14 services industries reporting growth in April — listed in order — are: Other Services; Wholesale Trade; Management of Companies & Support Services; Mining; Information; Construction; Accommodation & Food Services; Professional, Scientific & Technical Services; Utilities; Finance & Insurance; Transportation & Warehousing; Educational Services; Health Care & Social Assistance; and Public Administration. The three industries reporting a contraction in the month of April are: Agriculture, Forestry, Fishing & Hunting; Real Estate, Rental & Leasing; and Retail Trade.

WHAT RESPONDENTS ARE SAYING

• "Spring selling season for the homebuilding construction market is here, but interest rates, inflation, and oil supply issues are keeping buyers on the fence. Discounts and rate buy-downs remain the driver of sales, as affordability continues to be the hinderance for buyers. Cost cutting and value-engineering have reduced costs to pre-coronavirus pandemic levels, but inflation and rising oil prices threaten that hard work. Fuel surcharges, previously whispers, have become requests." [Construction]
• "First quarter 2026 finished strong for tertiary care and beat revenue expectations by 6 percent, patient volumes remain strong, and labor is holding steady. Despite macroeconomic concerns, supply chains remained resilient, yielding few significant back orders and functioning quite well compared to expectations. Geopolitical concerns remain in play for the near term, though thus far have had little if any impact on operations. Forecast is good for the next quarter." [Health Care & Social Assistance]
• "The war has caused many banking customers to back off equipment purchases and other spending.  Just as the recovery was under way, it is now turning off. Not a good thing." [Management of Companies & Support Services]
• "For ongoing projects, we are anticipating a 7 percent to 9 percent increase in expenses, primarily driven by the current local political environment. While projects in Western Hemisphere markets remain relatively stable in the short term, the broader global geopolitical landscape is expected to exert pressure over the medium to long term. We estimate that market normalization and cost recovery will require approximately 12 to 18 months." [Mining]
• "Our services sector continues to expand, supported by strong new orders, but softer employment and rising input costs are shaping a more cautious outlook. Clients are prioritizing efficiency, risk management and strategic advisory, driving sustained demand across our core accounting and consulting offerings." [Professional, Scientific & Technical Services]
• "Bracing for significant impacts due to increasing fuel costs. Expenditures for city fleet have increased, and we are starting to see fuel surcharges from suppliers. Actually, we are surprised that supplier fuel surcharges have not been more robust." [Public Administration]
• "Housing sales slowed in March, and the residential real estate market is still well below historical norms. If sales continue at the current rate for the rest of 2026, 3.98 million homes would be sold, the lowest since 1995. A prolonged conflict could maintain structural pressure on rates for 12 to 18 months." [Real Estate, Rental & Leasing]
• "Current business conditions continue to place pressure on purchasing operations due primarily to ongoing supply chain volatility, elevated transportation costs and inflation-driven pricing from key suppliers." [Transportation & Warehousing]
• "Business conditions in the transmission and distribution utility sector remain stable to slightly expanding, supported by ongoing grid modernization and infrastructure investment. Activity continues to be influenced by tariffs and elevated input costs, particularly in copper, aluminum, and steel, which are driving sustained pricing pressure across key materials. Supply chain conditions have improved modestly; however, lead times for critical equipment remain extended. Utilities are mitigating risk through early procurement, supplier diversification and strategic inventory positioning. The overall outlook remains positive despite cost and supply pressures." [Utilities]
• "Activity level and project activity remains high in most verticals. Data centers are front and center and show no signs of slowing down." [Wholesale Trade]

ISM^® Services PMI^® Report data is seasonally adjusted for the Business Activity, New Orders, Employment and Prices indexes. ISM^® Manufacturing PMI^® Report 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 (2); Beef (2); Copper (5); Diesel (2); Freight; Fuel (3); Gasoline (3); Labor (9); Lumber (4); Memory Products (4); Nickel Alloys; Plastics; Software — Licensing (3); Software — Maintenance/Support; Steel Products; Transportation (2); and Wire and Cable.

Commodities Down in Price
None.

Commodities in Short Supply
Electronic Components (3); Labor — Construction; Memory Components (4); and Oil and Petroleum Products.

Note: The number of consecutive months the commodity is listed is indicated after each item.

APRIL 2026 SERVICES INDEX SUMMARIES

Services PMI^®
In April, the Services PMI^® registered 53.6 percent, 1.1 percentage points above its 12-month moving average of 52.5 percent. A reading above 50 percent indicates the services sector economy is generally expanding; below 50 percent indicates it is generally contracting.

A Services PMI^® above 48.1 percent, over time, generally indicates an expansion of the overall economy. Therefore, the April Services PMI^® indicates the overall economy is expanding for the 71st straight month. Miller says, "The past relationship between the Services PMI^® and the overall economy indicates that the Services PMI^® for April (53.6 percent) corresponds to a 1.7-percentage point increase in real gross domestic product (GDP) on an annualized basis."

SERVICES PMI^® HISTORY

Business Activity
ISM^®'s Business Activity Index continued in expansion in April; the reading of 55.9 percent is 2 percentage points higher than the 53.9 percent recorded in March. April's reading is 1.5 percentage points above its 12-month moving average of 54.4 percent. Comments from respondents include: "Activity is higher primarily due to steady seasonal demand, increased flight volume and fewer operational disruptions compared to the prior month" and "Farmers reducing purchases for spring crops due to extremely high fertilizer cost; they are reluctant to plant spring crops due to extreme drought conditions."

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

New Orders
ISM^®'s New Orders Index remained in expansion territory at 53.5 percent in April, 7.1 percentage points lower than the reading of 60.6 percent in March. The index has expanded in 38 of the last 40 months. Comments from respondents include: "Everything is higher, because orders are trying to be placed before prices go higher" and "Middle East conflict is creating demand for domestic products."

The 13 industries reporting an increase in new orders for the month of April — listed in order — are: Other Services; Mining; Wholesale Trade; Management of Companies & Support Services; Information; Accommodation & Food Services; Construction; Professional, Scientific & Technical Services; Transportation & Warehousing; Utilities; Finance & Insurance; Educational Services; and Public Administration. The two industries reporting a decrease in new orders in the month of April are: Real Estate, Rental & Leasing; and Health Care & Social Assistance.

Employment
Employment activity in the services sector remained in contraction in April for a second month in a row. The Employment Index registered 48 percent, up 2.8 percentage points from the March figure of 45.2 percent and 0.6 percentage point below its 12-month average of 48.6 percent. Comments from respondents include: "We are experiencing large capital investment projects, requiring an increase in sourcing and material purchasing as well as head count" and "Beyond layoffs from the end of the year, there has been an uptick in attrition."

The eight industries reporting an increase in employment in April — listed in order — are: Construction; Other Services; Wholesale Trade; Transportation & Warehousing; Utilities; Professional, Scientific & Technical Services; Accommodation & Food Services; and Finance & Insurance. The six industries reporting a decrease in employment in April — listed in order — are: Mining; Public Administration; Real Estate, Rental & Leasing; Retail Trade; Information; and Educational Services.

Supplier Deliveries
In April, the Supplier Deliveries Index indicated slower performance for the 17th month in a row. The index registered 56.8 percent, up 0.6 percentage point from the 56.2 percent recorded in March. A reading above 50 percent indicates slower deliveries, while a reading below 50 percent indicates faster deliveries. Comments from respondents include: "Generally same delivery performance; however, we are expediting deliveries out of the Middle East conflict zone" and "Supplier deliveries have slowed slightly, reflecting transportation delays, longer lead times for certain materials, and ongoing supply chain adjustments."

The 13 industries reporting slower deliveries in April — in the following order — are: Mining; Public Administration; Professional, Scientific & Technical Services; Other Services; Health Care & Social Assistance; Information; Accommodation & Food Services; Wholesale Trade; Educational Services; Real Estate, Rental & Leasing; Finance & Insurance; Utilities; and Transportation & Warehousing. The only industry reporting faster supplier deliveries for the month of April is Agriculture, Forestry, Fishing & Hunting.

Inventories
The Inventories Index expanded for the third month in a row and fifth time in the last six months, registering 53.1 percent, a 1.7-percentage point decrease compared to the 54.8 percent reported in March. Of the total respondents in April, 30 percent indicated they do not have inventories or do not measure them. Comments from respondents include: "Delay in replacing fertilizer for inventory due to significantly higher prices" and "With newsprint in extremely short supply, we have to be creative to move paper around to be able to produce our newspapers; the cause of the shortage is primarily due to mill closures and conversions to more profitable packaging production."

The 10 industries reporting an increase in inventories in April — in the following order — are: Accommodation & Food Services; Professional, Scientific & Technical Services; Other Services; Real Estate, Rental & Leasing; Wholesale Trade; Public Administration; Retail Trade; Educational Services; Utilities; and Transportation & Warehousing. The six industries reporting a decrease in inventories in April, in order, are: Mining; Finance & Insurance; Construction; Management of Companies & Support Services; Agriculture, Forestry, Fishing & Hunting; and Health Care & Social Assistance.

Prices
Prices paid by services organizations for materials and services increased in April for the 107th consecutive month. The Prices Index registered 70.7 percent, the same as recorded in March, raising its 12-month average reading by 0.5 percentage point from 67.2 percent to 67.7 percent. This is the highest average reading since May 2023 (67.8 percent).

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

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 was in expansion territory for the third month in a row. The reading of 53 percent was a 0.6-percentage point decrease compared to the 53.6 percent reported in March. Of the total respondents in April, 31 percent indicated they do not measure backlog of orders. Respondent comments include: "Project activity is not slowing down" and "We are facing increasing competition and strong competitive pricing pressures."

The seven industries reporting an increase in order backlogs in April — listed in order — are: Real Estate, Rental & Leasing; Information; Wholesale Trade; Utilities; Professional, Scientific & Technical Services; Health Care & Social Assistance; and Finance & Insurance. The three industries reporting a decrease in order backlogs in April are: Mining; Management of Companies & Support Services; and Construction. Eight industries reported no change in backlog of orders in the month of April.

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 expanded for a third straight month in April. The New Export Orders Index registered 52.1 percent, up 1.4 percentage points compared to the March reading of 50.7 percent. Of the total respondents in April, 42 percent indicated they do not perform, or do not separately measure, orders for work outside of the U.S. Respondent comments include: "Iran War is causing hesitation to do international work" and "Requests for goods and services slightly higher; budget monies being used that were on hold toward the end of last year."

The six industries reporting an increase in new export orders in April — in the following order — are: Mining; Utilities; Finance & Insurance; Information; Professional, Scientific & Technical Services; and Wholesale Trade. The six industries reporting a decrease in new export orders in April, in order, are: Public Administration; Construction; Accommodation & Food Services; Educational Services; Transportation & Warehousing; and Health Care & Social Assistance. Six industries reported no change in exports in April.

Imports
The Imports Index remained in expansion territory in April for the third month in a row and fourth time in the last five months, registering 54.7 percent, 0.5 percentage point lower than the 55.2 percent reported in March. Of the total respondents in April, 38 percent reported that they do not use, or do not track the use of, imported materials. Respondent comments include: "Inventory positioning to ensure continuity of supply for materials and services" and "Fuel and transportation costs increased compared to the previous month, creating upward pressure on overall purchasing and logistics expenses." Also, "Higher fuel prices and capacity tightening have resulted in increased carrier surcharges and higher spot market rates, particularly for time-sensitive and long-haul shipments; these conditions continue to impact total landed costs and require closer coordination with suppliers and logistics providers."

The seven industries reporting an increase in imports for the month of April, in order, are: Accommodation & Food Services; Agriculture, Forestry, Fishing & Hunting; Wholesale Trade; Professional, Scientific & Technical Services; Health Care & Social Assistance; Information; and Utilities. The three industries reporting a decrease in imports in April are: Public Administration; Mining; and Educational Services. Eight industries reported no change in imports in April.

Inventory Sentiment
The ISM^® Services Inventory Sentiment Index was in expansion (or "too high") territory for the 36th consecutive month in April; the reading of 55.1 percent is an increase of 0.8 percentage point compared to March's figure of 54.3 percent. This reading indicates that respondents feel their companies' inventory levels are too high when correlated to business requirements.

The five industries reporting sentiment that their inventories were too high in April are: Retail Trade; Other Services; Wholesale Trade; Utilities; and Health Care & Social Assistance. The four industries reporting a decrease in inventory sentiment in April are: Real Estate, Rental & Leasing; Mining; Management of Companies & Support Services; and Agriculture, Forestry, Fishing & Hunting. Nine industries reported no change in inventory sentiment in April.

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 2026.

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 ISM^® Services PMI^® Report (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 Panel (formerly Non-Manufacturing Business Survey Committee) is diversified by the North American Industry Classification System (NAICS), based on each industry's contribution to gross domestic product (GDP). The Services Business Survey Panel 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 U.S. Bureau of Economic Analysis (BEA) estimates (the average of the fourth quarter 2024 GDP estimate and the GDP estimates for first, second, and third quarter 2025, as released on January 22, 2026), the six largest services sectors are: Real Estate, Rental & Leasing; Public Administration; Professional, Scientific, & Technical Services; Health Care & Social Assistance; Information; and Finance & Insurance.

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 48.1 percent, over time, indicates that the overall economy, or gross domestic product (GDP), is generally expanding; below 48.1 percent, it is generally declining. The distance from 50 percent or 48.1 percent is indicative of the strength of the expansion or decline.

The ISM^® Services PMI^® Report survey is sent out to Services Business Survey Panel respondents in 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 ISM^® Services PMI^® 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.

ISM PMI^® Content

The Institute for Supply Management^® ("ISM^®") PMI^® Reports, formerly Report On Business^®, (Manufacturing and Services reports) ("ISM PMI^®") contain information, text, files, images, video, sounds, musical works, works of authorship, applications, and any other materials or content (collectively, "Content") of ISM ("ISM PMI^® Content"). ISM PMI^® Content is protected by copyright, trademark, trade secret, and other laws, and as between you and ISM, ISM owns and retains all rights in the ISM PMI^® Content. ISM hereby grants you a limited, revocable, nonsublicensable license to access and display on your individual device the ISM PMI^® Content (excluding any software code) solely for your personal, non-commercial use. The ISM PMI^® Content shall also contain Content of users and other ISM licensors. Except as provided herein or as explicitly allowed in writing by ISM, you shall not copy, download, stream, capture, reproduce, duplicate, archive, upload, modify, translate, publish, broadcast, transmit, retransmit, distribute, perform, display, sell, or otherwise use any ISM PMI^® Content.

Except as explicitly and expressly permitted by ISM, you are strictly prohibited from creating works or materials (including but not limited to tables, charts, data streams, time-series variables, fonts, icons, link buttons, wallpaper, desktop themes, online postcards, montages, mashups and similar videos, greeting cards, and unlicensed merchandise) that derive from or are based on the ISM PMI^® Content. This prohibition applies regardless of whether the derivative works or materials are sold, bartered or given away. You shall not either directly or through the use of any device, software, internet site, web-based service, or other means remove, alter, bypass, avoid, interfere with or circumvent any copyright, trademark, or other proprietary notices marked on the Content or any digital rights management mechanism, device, or other content protection or access control measure associated with the Content including geo-filtering mechanisms. Without prior written authorization from ISM, you shall not build a business utilizing the Content, whether or not for profit.

You shall not create, recreate, distribute, incorporate in other work or advertise an index of any portion of the Content unless you receive prior written authorization from ISM. Requests for permission to reproduce or distribute ISM PMI^® Content can be made by contacting in writing at: ISM Research, Institute for Supply Management, 309 West Elliot Road, Suite 113, Tempe, Arizona 85284-1556, or by emailing [email protected]; Subject: Content Request.

ISM shall not have any liability, duty or obligation for or relating to the ISM PMI^® Content or other information contained herein, any errors, inaccuracies, omissions or delays in providing any ISM PMI^® Content or for any actions taken in reliance thereon. In no event shall ISM be liable for any special, incidental, or consequential damages arising out of the use of the ISM PMI^®. Report On Business^®, PMI^®, Manufacturing PMI^® and Services PMI^® are registered trademarks of Institute for Supply Management^®. Institute for Supply Management^® and ISM^® are registered trademarks of Institute for Supply Management, Inc.

About Institute for Supply Management^®

Institute for Supply Management^® (ISM^®) is the first and leading not-for-profit professional supply management organization worldwide. Its community of more than 50,000 in more than 100 countries around the world manage about US$1 trillion in corporate and government supply chain procurement annually. Founded in 1915 by practitioners, ISM is committed to advancing the strategy and practice of integrated, end-to-end supply chain management through leading edge data-driven resources, community, and education to empower individuals, create organizational value and to drive competitive advantage. ISM's vision is to foster a prosperous, sustainable world. ISM empowers and leads the profession through the ISM^® PMI^® Reports (formerly Report On Business^®), its highly regarded certification and training programs, corporate services, events and assessments. The ISM^® PMI^® Reports — Manufacturing and Services — are two of the most reliable economic indicators available, providing guidance to supply management professionals, economists, analysts, and government and business leaders. For more information, please visit: https://www.ismworld.org.

The full text version of the ISM^® Services PMI^® Report 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 one exception is in January, the report is released on the fourth business day of the month.

The next ISM^® Services PMI^® Report featuring May 2026 data will be released at 10:00 a.m. ET on Tuesday, June 3, 2026.

*Unless the New York Stock Exchange is closed.

SOURCE Institute for Supply Management

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