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Macro EconomyMediumUpdated•Originally published 5 October 2026•Updated 5 October 2026•
1 min read

US Services Growth Slows in September as Price Pressures Surge to Two-Year High

Key Facts

1The ISM Services PMI recorded 54.9 in September, missing the consensus estimate of 55.2.
2The prices paid index surged to 74.0, its highest level since July 2022, indicating intensifying inflationary pressures.
3The employment index returned to slight expansion at 50.1 after two consecutive months of contraction.

The ISM Services PMI recorded 54.9 in September, missing the consensus estimate of 55.2. According to a report by investinglive.com, the figure represents a slight decline from the previous month's 55.4, though it remains above the 50-point threshold for the 27th consecutive month of expansion.

The prices paid index surged to 74.0, its highest level since July 2022, driven by fuel costs and supply constraints. Meanwhile, the employment index returned to slight expansion at 50.1 after two months of contraction, and new orders eased to 59.8 while still indicating solid overall demand.

Latest Updates · 1

  1. Notable·

    Update: Gold prices dipped to $4,141/oz on October 5, 2026, following the release of the ISM Services PMI data. The price move occurred as the data highlighted persistent price pressures within the non-manufacturing sector.