ISM Non-Manufacturing (SERVICES) Index for AUGUST 2026

The Institute for Supply Management (ISM®) released their Non-Manufacturing / Services Index (NMI®) for August, 2026:

==========

• Actual: 55.4%  (+1.3 points month-on-month change)

==========

Previous month: 54.1%

==========

The NMI is a reliable barometer of the U.S. services sector; above 50% implies expansion, while a reading below 50% implies that the services sector contracted.

==========

From Today' Report:

 

 "...Economic activity in the services sector continued to expand in August, say the nation’s purchasing and supply executives in the latest ISM® Services PMI® Report. The Services PMI® registered 55.4 percent, the 26th consecutive month in expansion territory..."

 
===========

Here's A Sampling Of Comments
Made By Survey Participants:

• "...'General business conditions are positive. The challenges lie in managing through the dynamic nature of the administration’s policies -- tariffs and [Iran invasion] -- that have caused numerous input cost headwinds for suppliers and us.'
   [Accommodation + Food Services] 

• 'The bond market pushed 30-year mortgage rates up to 6.67 percent, reducing affordability and moving prospective buyers back to the sidelines. The new-build housing market continues to slow with the selling season coming to a close and the start of the new school year. Rate buydowns and discounts have become the norm instead of the tool to drive traffic.'
   [Construction] 

• 'The [Iran invasion] and strain on the oil supplies has resulted in our paying higher cost for fuel. Locally, our economy continues to perform well, and our housing market is solid. We expect our enrollment to remain steady as long as the local economy stays strong.'
   [Educational Services] 

• 'Rising health-care costs, regulatory complexity and reimbursement pressure continue to drive a cautious purchasing environment within health insurers. Focus remains on cost management, supplier performance, operational efficiency and risk mitigation, resulting in increased scrutiny of supplier value, contract commitments and strategic investments.'
   [Finance + Insurance] 

• 'We received a few communications regarding tariffs that are being refunded. Fewer materials being back-ordered at this time.'
   [Health Care + Social Assistance] 

• 'Concerns about market trends, reduced hospital sources of revenue and increasing debt management creating reluctance of our customers to expand.'
   [Management of Companies + Support Services] 

• 'Business is picking up and forecast to increase over the next six months.'
   [Other Services] 

• 'The stacked Section 301 duties plus the newer forced-labor related tariffs are keeping landed costs elevated and forcing constant TCO recalculation. We are actively dual-sourcing and evaluating nearshoring options, but qualified capacity, lead times and quality consistency are limited for certain specialty materials and components. The results are higher inventory buffers, longer planning cycles, and margin pressure that we can only partially pass through. On the positive side, Florida ports (especially Port Everglades and the broader South Florida gateway) remain relatively fluid compared with the congestion spikes earlier in the year on the West Coast and in Europe.'
   [Professional, Scientific + Technical Services] 

• 'The memory shortage is continually getting worse. For devices requiring (memory) cards, inventory is low and prices are high.'
   [Retail Trade] 

• 'The electrical distribution industry volume demand and opportunities remain very strong. Commodities-based products of materials like copper, aluminum and polyvinyl chloride continue to have price increases and adjustments on a weekly basis. Geopolitical issues like tariffs continue to impact pricing as well. Supplier capacities are still strained due high market demands.'
   [Wholesale Trade]

========== 

• Click here to view the complete ISM report
  

==========

CHART: ISM Services Index

(NMI®) AUGUST 2026 Update

==========

    

CHART: ISM Services Index
12-Month History
AUGUST 2026 Update

 ==========

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Import and Export Price Indexes for JULY 2026

The Labor Department's Bureau of Labor Statistics released its report on U.S. Import and Export Price Indexes for July, 2026:

===============

Import Prices
Previous Reading*: -0.3%
Actual: -0.4%

• Change From 12-Months Previous: +5.9%

    -- Year-on-year previous reading = +7.1%

===============

Export Prices
Previous Reading*: -0.7%
Actual: -1.3%

• Change From 12-Months Previous: +8.2%

    -- Year-on-year previous reading* = +10.2%

===============
 

* = Revised data.  

 

The above percentages, highlighted in yellow, represent the month-to-month change in prices for:

• Imports: the cost of goods produced in other countries and sold in the United States.
• Exports: the cost of goods produced in the USA and sold in other countries.

Together, these indexes offer insight into the status of inflation in the United States, and for the global economy as well. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

=================

CHART: Import Price Index

JULY, 2026 Update

================= 

CHART: Export Price Index

JULY, 2026 Update

===============

• Click here to view the full Labor Department report.

===============

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U.S. Retail And Food Services Sales Report for JULY 2026

The Commerce Department has released advance estimates of U.S. Retail and Food Services Sales for JULY, 2026:

=================

Previous Month (revised): +0.25% (+$1,880,000,000)

• Actual: -0.58% (-$4,470,000,000)

================= 

The highlighted percentage above represents the month-to-month, seasonally adjusted change in total sales receipts for retailers that sell durable and non-durable goods, and retailers that provide food and beverage services.

=================

• Est. Retail Sales During June, 2026: $763,602,000,000

• Year-On-Year Change: +5.01% (+$36,426,000,000)

=================

 

CHART: Retail Sales - Monthly

January 2006 Thru July 2026
JULY 2026 UPDATE
=================

 

• Click here to view the full Commerce Department report.
  
  

=================   

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U.S. Retail And Food Services Sales Report for JUNE 2026

The Commerce Department this morning released advance estimates of U.S. Retail and Food Services Sales for JUNE, 2026:

=================

Previous Month (revised): +1.02% (+$7,779,000,000)

• Actual: +0.22% (+$1,677,000,000)

================= 

The highlighted percentage above represents the month-to-month, seasonally adjusted change in total sales receipts for retailers that sell durable and non-durable goods, and retailers that provide food and beverage services.

=================

• Est. Retail Sales During June, 2026: $768,553,000,000

• Year-On-Year Change: +6.72% (+$48,389,000,000)

=================

 

CHART: Retail Sales - Monthly

January 2006 Thru June 2026
JUNE 2026 UPDATE
=================

 

• Click here to view the full Commerce Department report.
  
  

=================   

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ISM Non-Manufacturing (SERVICES) Index for JUNE 2026

The Institute for Supply Management (ISM®) released their Non-Manufacturing / Services Index (NMI®) for June, 2026:

==========

• Actual: 54.0%  (-0.5 point month-on-month change)

==========

Previous month: 54.5%

==========

The NMI is a reliable barometer of the U.S. services sector; above 50% implies expansion, while a reading below 50% implies that the services sector contracted.

==========

From Today' Report:

 

 "... Economic activity in the services sector continued to expand in June, say the nation’s purchasing and supply executives in the latest ISM® Services PMI® Report. The Services PMI® registered 54 percent, the 24th consecutive month in expansion territory..."

 
===========

Here's A Sampling Of Comments
Made By Survey Participants:

• "We continue to experience higher prices due to the Persian Gulf conflict through rising diesel fuel costs and increased input costs for resin-based packaging. The brunt of the impact will be experienced in the third quarter (Q3) of 2026, but we are feeling the impact now. Suppliers are aggressively attempting to pass through price increases.”
   [Accommodation & Food Services] 

• “Extreme drought in Virginia is creating financial problems for farmers and the agricultural industry. Dramatically reduced spring crops harvest has created significant cost increases in feed expense. The barley grain crop was nearly totally lost due to the early hot weather and spring freeze. High fertilizer cost increases due to the Iran invasion and increased freight cost has driven cost for crops above breakeven levels on many farms. Many dairy farmers are struggling with crop shortages, high input cost and below milk price breakeven. The financial stress from higher cost due to the Iran invasion and drought-related forage losses has resulted in decreased spending in the agricultural sector.”
   [Agriculture, Forestry, Fishing & Hunting] 

• “In general, our company (commercial construction) is doing well. Pipeline is healthy for current and future work. Material pricing is higher and lead times on certain components in support of data center piping is elongating.”
   [Construction] 

• “In addition to the known semiconductor manufacturing issue, now there are concerns regarding memory availability that is materially impacting our OEM’s purchasing patterns, which is affecting availability and driving my company’s purchasing decisions, including how much longer we are sweating our assets, how frequently we refresh, and how we approach maintenance contracts.”
   [Finance & Insurance] 

• “Despite economic headwinds like persistent inflation, patient volumes and overall business activity remain strong reflected mainly by outstanding revenue performance. Supply chains remain resilient as well; back orders are at a historical low, and few if any critical products are experiencing difficulties. Labor is steady, as we continue to add full-time workers while the forecast remains positive. Given the continuation of the conflict in the Middle East, we are beginning to hear that cost of goods increases are on the horizon but have yet to materialize. Cost increases are in focus for the next quarter.”
   [Health Care & Social Assistance] 

• “From a strategic supply chain perspective, we are seeing increased complexity in managing total landed cost due to tariffs, import/export constraints and duty recovery mechanisms, requiring more proactive coordination across sourcing, logistics and compliance teams. Recent discussions internally also highlight the impact of tariff programs and duty drawback evaluations on purchasing strategies.”
   [Mining] 

• “Demand remains strong in infrastructure, environmental, and resilience projects, while procurement faces persistent labor inflation, supplier capacity constraints, and regulatory complexity—particularly in California and other high-cost markets. Labor-driven categories remain elevated despite easing goods inflation. The impact is higher rates, longer lead times, and increased importance of capacity assurance vs. lowest-cost sourcing.”
   [Professional, Scientific & Technical Services] 

• “Business has been very strong during what is usually a less active time of the year. Pricing is stable, and employment just where we want it to be. Supply chain strong with no challenges.”
   [Retail Trade] 

• “The utility industry continues to experience extended lead times, supply-chain constraints, material shortages, and pricing volatility. As a result, suppliers are often limiting quotation validity periods, with many RFQs carrying expiration dates as short as 24 hours. These conditions require timely evaluation and procurement decisions to mitigate the risk of price changes and availability issues.”
   [Utilities] 

• “We are experiencing continued sequential top-line growth driven mostly by increased prices.”
   [Wholesale Trade]
  

========== 

• Click here to view the complete ISM report
  

==========

CHART: ISM Services Index
(NMI®) JUNE 2026 Update

==========

  

CHART: ISM Services Index
12-Month History
JUNE 2026 Update

 ==========

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U.S. Retail And Food Services Sales Report for MAY 2026

The Commerce Department this morning released advance estimates of U.S. Retail and Food Services Sales for MAY, 2026:

=================

Previous Month (revised): +0.4% (+$3,023,000,000)

• Actual: +0.88% (+$6,669,000,000)

=================

The highlighted percentage above represents the month-to-month, seasonally adjusted change in total sales receipts for retailers that sell durable and non-durable goods, and retailers that provide food and beverage services.

=================

• Est. Retail Sales During May, 2026: $763,705,000,000

• Year-On-Year Change: +6.88% (+$49,137,000,000)

=================

 

CHART: Retail Sales - Monthly

February 2006 Thru May 2026
MAY 2026 UPDATE
=================

• Click here to view the full Commerce Department report.
  
  

=================   

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Import and Export Price Indexes for MAY 2026

The Labor Department's Bureau of Labor Statistics released its report on U.S. Import and Export Price Indexes for May, 2026:

===============

Import Prices
Previous Reading*: +2.0%
Actual: +1.9%

• Change From 12-Months Previous: +6.7%

    -- Year-on-year previous reading = +4.2%

===============

Export Prices
Previous Reading*: +3.5%
Actual: +1.3%

• Change From 12-Months Previous: +11.2%

    -- Year-on-year previous reading* = +9.1%

===============
 

* = Revised data.  

 

The above percentages, highlighted in yellow, represent the month-to-month change in prices for:

• Imports: the cost of goods produced in other countries and sold in the United States.
• Exports: the cost of goods produced in the USA and sold in other countries.

Together, these indexes offer insight into the status of inflation in the United States, and for the global economy as well. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

=================

CHART: Import Price Index

MAY, 2026 Update

================= 

CHART: Export Price Index

MAY, 2026 Update

===============

• Click here to view the full Labor Department report.

===============

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ISM Non-Manufacturing Index (NMI®) for MAY 2026

The Institute for Supply Management (ISM®) released their Non-Manufacturing Index (NMI®) for May, 2026:

==========

Predicted: 54.0%

• Actual: 54.5%  (+0.9 point month-on-month change)

==========

Previous month (revised): 53.6%

==========

The NMI is a reliable barometer of the U.S. services sector; above 50% implies expansion, while a reading below 50% implies that the services sector contracted.

==========

From today' report:

"...Economic activity in the services sector continued to expand in May, say the nation’s purchasing and supply executives in the latest ISM® Services PMI® Report. The Services PMI® registered 54.5 percent, the 23rd consecutive month in expansion territory..."

===========

Here's A Sampling Of Comments
Made By Survey Participants:

• "We are seeing the dual effects of the administration’s tariff policy dynamics and the invasion of Iran affect our pricing. Suppliers across numerous industries are trying to pass price increases for fuel surcharges and increased input costs for resin-based products and the like. This is the definition of inflationary pressure starting to affect us. We expect significant cost increases to impact us by late second quarter (Q2) and definitely in Q3.”
   [Accommodation & Food Services] 

• “Starting to see increased supply constraints and associated price increases, especially for construction materials and computers like laptops and tablets.”
   [Educational Services] 

• “Patient volumes and activity remain high, employment is steady and supply chains are operating effectively. There are some product lines on allocation as a direct result of the invasion of Iran; however, the current state is manageable. Another concerning factor on the horizon: the current drop-out rate on Affordable Care Act (ACA) health insurance plans after the federal subsidy was eliminated as of January 1. Year-to-date dropout rates are approaching 14 percent, indicating we may be seeing a potential increase in uninsured patients in the foreseeable future. The short-term forecast is cautious optimism.”
   [Health Care & Social Assistance] 

• “The groundwood paper market remains tight. The announced sale of NORPAC to International Paper has caused some tightness. We figure intellectual property issues will eventually take NORPAC out of the book market. Freight remains expensive, with gas prices and fuel surcharges starting to come through.”
   [Information] 

• “Effective commodity prices (oil) have increased about 20 percent so far in 2026.”
   [Mining] 

• “Due to rising fuel costs, a major distributor has decided to hold freight with resellers until a new contract is negotiated that addresses these increased expenses. Unfortunately, this means there will be delays that will impact our internal projects.”
   [Public Administration] 

• “Supply chain reliability for aviation parts and consumables has generally improved, but volatility in jet fuel prices -- driven by geopolitical and logistics disruptions -- continues to complicate forecasting and inventory planning. Wage inflation and a tight labor market for skilled personnel are increasing supplier service costs, and growing sustainability expectations are raising demand (and cost) for sustainable aviation fuel, with availability still uneven by region. Overall, conditions are more stable than during the peak of supply chain disruptions, but elevated fuel, labor and sustainability-related costs remain key factors shaping our purchasing strategy and industry outlook.”
   [Transportation & Warehousing] 

• “Inflationary pressures continue to impact pricing in certain categories. General concern over supply continuity due to unprecedented demand continues in the utility space.”
   [Utilities] 

• “Capital expenditure energy projects continue to be delayed or revamped based on macroeconomic factors. Data center power generation projects are driving demand and reducing available inventory across the piping market.”
   [Wholesale Trade]
  
  ===========

• Click here to view the complete ISM report
  
  

==========

CHART: ISM Non-Manufacturing (Services) Index
(NMI®) MAY 2026 Update

==========

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Import and Export Price Indexes for APRIL 2026

The Labor Department's Bureau of Labor Statistics released its report on U.S. Import and Export Price Indexes for April, 2026:

===============

Import Prices
Previous Reading, revised: +0.9%
Actual: +1.9%

• Change From 12 Months Previous: +4.2%

    -- Year-on-year previous reading = +2.1%

===============

Export Prices
Previous Reading, revised: +1.5%
Actual: +3.3%

• Change From 12 Months Previous: +8.8%

    -- Year-on-year previous reading = +5.6%

===============
 
The above percentages, highlighted in yellow, represent the month-to-month change in prices for:

• Imports: the cost of goods produced in other countries and sold in the United States.
• Exports: the cost of goods produced in the USA and sold in other countries.

Together, these indexes offer insight into the status of inflation in the United States, and for the global economy as well. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

=================

CHART: Import Price Index

APRIL 2026 Update

================= 

CHART: Export Price Index

APRIL 2026 Update

===============

• Click here to view the full Labor Department report.

===============

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U.S. Retail And Food Services Sales Report for APRIL 2026

The Commerce Department this morning released advance estimates of U.S. Retail and Food Services Sales for APRIL, 2026:

=================

Previous Month (revised): +1.63% (+$12,092,000,000)

• Actual: +0.49% (+$3,715,000,000)

=================

The highlighted percentage above represents the month-to-month, seasonally adjusted change in total sales receipts for retailers that sell durable and non-durable goods, and retailers that provide food and beverage services.

=================

• Est. Retail Sales During April, 2026: $757,085,000,000

• Year-On-Year Change: +4.87% (+$35,182,000,000)

=================

 

 

CHART: Retail Sales - Monthly

February 2006 Thru April 2026
APRIL 2026 UPDATE
=================

• Click here to view the full Commerce Department report.
  
  

=================   

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U.S. Retail And Food Services Sales Report for MARCH 2026

The Commerce Department this morning released advance estimates of U.S. Retail and Food Services Sales for March, 2026:

=================

Previous Month (revised): +0.72% (+$5,269,000,000)

• Actual: +1.66% (+$12,291,000,000)

=================

The highlighted percentage above represents the month-to-month, seasonally adjusted change in total sales receipts for retailers that sell durable and non-durable goods, and retailers that provide food and beverage services.

=================

• Est. Retail Sales During March, 2026: $752,063,000,000

• Year-On-Year Change: +3.97% (+$28,713,000,000)

=================

CHART: Retail Sales - Monthly

February 2006 Thru March 2026
MARCH 2026 UPDATE
=================

• Click here to view the full Commerce Department report.
  
  

=================   

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Import and Export Price Indexes for MARCH 2026

The Labor Department's Bureau of Labor Statistics released its report on U.S. Import and Export Price Indexes for March, 2026:

===============

Import Prices
Previous Reading, revised: +0.9%
Actual: +0.8%

• Change From 12 Months Previous: +2.1%

    -- Year-on-year previous reading = +1.3%

===============

Export Prices
Previous Reading, revised: +1.5%
Actual: +1.6%

• Change From 12 Months Previous: +5.6%

    -- Year-on-year previous reading = +3.5%

===============
 
The above percentages, highlighted in yellow, represent the month-to-month change in prices for:

• Imports: the cost of goods produced in other countries and sold in the United States.
• Exports: the cost of goods produced in the USA and sold in other countries.

Together, these indexes offer insight into the status of inflation in the United States, and for the global economy as well. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

=================

CHART: Import Price Index

MARCH 2026 Update

================= 

CHART: Export Price Index

MARCH 2026 Update

===============

• Click here to view the full Labor Department report.

===============

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