| Consensus | Consensus Range | Actual | Previous | |
| Index | 54.1 | 52.8 to 57.1 | 55.4 | 54.1 |
Highlights
ISM services index tops expectations with a strong 55.4 in August versus 54.1 in July, which was also the expected figure for August.
The report shows faster growth nearly across the board with production up to 61.7 from 59.1 in July. The production index is highest since November 2022. New orders rise to 60.9 from 57.2, and new export orders are up to 56.3 from 52.0.
Employment is the exception as the employment index comes in at 47.8 in August from 47.4 in July, indicating contraction continues at roughly the same pace.
Price pressures worsened with the prices index up to 72.6 in August from 70.3 in July. This is the highest prices index since 2022.
Market Consensus Before Announcement
Services seen flat at 54.1 in August from July.
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