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Markets look to ISM September services PMI for US growth signal
The consensus estimate calls for a rise to 55.7 from August’s 55.4, with recent ISM hiring and new orders also trending higher.
FXStreet highlights that the Institute for Supply Management is set to publish its September services sector gauge, with markets watching the latest read on US economic resilience.
Consensus expectations point to a marginal increase to 55.7 from August’s 55.4. If the figure holds, the data is seen as unlikely to materially weaken confidence in the sector’s strength.
The August ISM release showed mixed signals, with the Employment Index edging up to 47.8 from 47.4 and New Orders increasing to 60.9. FXStreet also notes the Prices Paid Index rose to 72.6, reflecting ongoing inflation pressure.
The outlet adds that US inflation remains above the Federal Reserve’s 2% target, leaving policymakers uneasy, alongside uncertainty tied to the Middle East crisis and the delayed impact of US tariffs. It also points to indications that inflation pressure lost some traction in August after recent CPI and Personal Consumption Expenditures data.