The Institute for Supply Management’s services PMI for the United States came in at 54.5 for October 2026, according to the release. The figure was below the market forecast of 54.8 and lower than the previous period’s reading of 54.9.
What the index measures
The PMI is a monthly survey of purchasing managers in the services sector, which covers a large share of the American economy. A reading above 50 indicates that activity in the sector expanded over the month, while a reading below 50 indicates contraction. The 54.5 figure therefore points to continued expansion, though at a slightly slower pace than the previous period.
The data was released at 15:00 GMT on 4 November 2026. Because the gap to forecast is small, the reading is unlikely on its own to change the broader picture of the sector, which has remained in expansion territory.
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Source: Institute for Supply Management
