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Services PMI at 55.3%; February 2021 Services ISM Report On Business
Economic activity in the services sector grew in February for the ninth month in a row, say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®. The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee: "The Services PMI® registered 55.3 percent, 3.4 percentage points lower than the January reading of 58.7 percent. This reading indicates the ninth straight month of growth for the services sector, which has expanded for all but two of the last 133 months. "The ... (full story)
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ECONOMY WATCH: Huge service side of economy grew more slowly in February even as Covid cases fell and business restrictions lifted. ISM services index falls to 55.3% from 58.7%. Supply bottlenecks and price hikes a drag, the ISM found, but the good news is demand is coming back.
— Jeffry Bartash (@jbartash) March 3, 2021
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US ISM'S NIEVES: FEB'S SERVICES REPORT SHOW CONTINUING EMPLOYMENT RESTRAINTS; DELIVERIES HIT BY PORT CONGESTION, TRUCKS SHORTAGES #Nieves #ISM #services
— Mace News (@MaceNewsMacro) March 3, 2021