US ISM Services PMI (September)
US ISM Services PMI slips to 54.9 in September, below the 55.7 expected
Actual
54.9
Forecast
55.7
Previous
55.4
What it means
The ISM Services index surveys business managers to show whether the services sector, the biggest part of the US economy, is growing or shrinking. Above 50 means expansion. At 54.9, services grew for the 27th straight month, just a bit slower than in August (55.4).
What it moves
A slightly weaker-than-expected reading can give modest support to Treasury bonds and weigh a little on the dollar, as it eases pressure for the Fed to keep rates high. Since it remains well in expansion territory, it is not a recession signal and the effect on stocks should be limited.
Affected markets
- US Treasuries ↑ — Slightly softer growth supports bond prices
- US Dollar ↓ — Activity cooled versus expectations
- US equities → — Sector still expanding, so no real growth scare
🎓 Today's takeaway
With PMIs, what matters is the level relative to 50 and the trend, not a single print: an index that falls but stays well above 50 signals growth moderating, not an economy stalling.
Vectorial Economía is descriptive educational information about macro data. Not investment advice. Past market behavior does not guarantee future results.