US ISM Services PMI December 2026
December 3 @ 10:00 am - 11:00 am
US ISM Services PMI December 2026
Next US ISM Services PMI: Thursday, at 10:00 am ET (3:00 pm London).
Date to be confirmed by the publisher; this is the scheduled date.
- Consensus
- A consensus forecast has not yet bee…
- Actual
- Pending
Full schedule and background: US ISM Services PMI.
Updated
The US ISM Services PMI for November 2026 is scheduled for release on Thursday, December 3, 2026 at 10:00 am ET (3:00 pm London), published by the Institute for Supply Management (ISM). The report covers business activity in the services sector, which accounts for the majority of US economic output, during November 2026. Full schedule and background: US ISM Services PMI.
What is the ISM Services PMI?
The ISM Services PMI (Purchasing Managers’ Index) is a monthly survey of purchasing and supply executives across the US services sector, covering industries such as finance, healthcare, retail, transport and hospitality. It is compiled from responses on business activity, new orders, employment, supplier deliveries and prices, and combined into a single headline number.
A reading above 50 signals that the services sector, taken as a whole, is expanding compared with the previous month. A reading below 50 signals contraction. Because services make up around three quarters of US private-sector activity, the index is one of the most closely watched gauges of the health of the broader economy, alongside its manufacturing counterpart.
Investors, economists and central bankers watch the report because it arrives early in the month and gives one of the first readings on how the economy performed, well before slower official data such as GDP. Markets in Europe and Asia also react to the release because a strong or weak US services sector affects global demand, US interest rate expectations and, in turn, currency and bond markets worldwide.
When is the November ISM Services PMI released?
The report is expected on Thursday, December 3, 2026 at 10:00 am ET (3:00 pm London), published directly by the Institute for Supply Management on its website. ISM has not yet confirmed this specific date at the time of writing. ISM typically publishes the Services PMI on the first, second or third business day of the month following the survey period, so the December 3 date reflects that usual pattern rather than a confirmed release calendar entry.
What is the consensus forecast?
A consensus forecast for the November 2026 ISM Services PMI has not yet been published. Economist surveys from data providers such as Reuters and Bloomberg are typically compiled only in the days immediately before release, and the prior reading for November 2026 (the October 2026 report, published in early November) had also not yet been released at the time this preview was written.
| Measure | Prior | Consensus |
|---|---|---|
| Headline Services PMI | Not yet available | Not yet published |
| New Orders Index | Not yet available | Not yet published |
| Employment Index | Not yet available | Not yet published |
Once economists’ estimates are published, typically in the week before release, this page will be updated with the prior reading and the consensus figure, both sourced from the official ISM release and reputable polling data.
What the result could mean
| Scenario | Likely market read | What it means in plain English |
|---|---|---|
| Above consensus | Seen as a sign of resilient services activity, which economists surveyed by Bloomberg often link to reduced expectations of near-term interest rate cuts | The services side of the economy, where most people work, is holding up better than expected, which can support wages but keep borrowing costs higher for longer |
| In line with consensus | Typically produces limited market reaction, as analysts note the data confirms the existing view of the economy | The economy is behaving broadly as expected, so there is little new information for households or investors to react to |
| Below consensus | Often interpreted by economists as a sign of a slowing services sector, which can raise expectations that the Federal Reserve may ease policy sooner | Weaker demand for services could point to a softer jobs market and slower growth, which sometimes brings mortgage and loan rates down over time |
These are possible market reactions based on how similar releases have historically been read by analysts, not predictions of the actual outcome.
Why does this release matter right now?
The Federal Reserve monitors services sector data closely because it captures where most American jobs and consumer spending activity sit, distinct from the smaller and more volatile manufacturing sector. Recent ISM Services readings have been watched for signs of whether elevated borrowing costs and sticky inflation are cooling demand for services such as travel, healthcare and financial services, or whether the sector continues to expand despite tighter monetary policy.
Any material change in the trend of this index, either an unexpected acceleration or a sharper slowdown, tends to move expectations for the Federal Reserve’s next interest rate decision, which in turn affects Treasury yields, the dollar and, by extension, other currencies including the pound and the euro.
What It Means for Your Money
- Mortgages and loans: A stronger than expected services reading can push up expectations that interest rates will stay higher for longer, which tends to keep mortgage and loan rates elevated. A weaker reading can have the opposite effect over time.
- Savings: If the data supports higher rates for longer, savers holding cash in interest-bearing accounts may continue to earn relatively attractive returns, though this can change quickly if the outlook shifts.
- Jobs and wages: Because services employ the bulk of the US workforce, sustained weakness in this index can be an early warning of a softer jobs market, which matters for wage growth and job security.
- Investments and pensions: Equity markets, including those held in pensions and index funds, often react to surprises in this data because it feeds into expectations for corporate earnings and interest rates.
- Currencies: A surprise in either direction can move the dollar against the pound and the euro, affecting the cost of imports, the price of holidays abroad and returns on overseas investments for UK and European investors.
Related events
- Previous release: US ISM Services PMI, November 2026
- ISM Manufacturing PMI, typically released a few business days earlier in the same week
- US nonfarm payrolls report, usually released the Friday of the same week, which offers a complementary read on the labour market
Frequently Asked Questions
What time is the ISM Services PMI released?
The report is released at 10:00 am ET, which is 3:00 pm in London, on the scheduled release day.
How do I read the ISM Services PMI number?
A figure above 50 indicates the services sector is expanding compared with the previous month, while a figure below 50 indicates contraction.
How does this report affect interest rates?
Central banks, including the Federal Reserve, use this data as one input among many when assessing economic momentum, so a surprise reading can shift market expectations for future interest rate decisions, though it rarely changes policy on its own.
Where can I find the official release?
The official report is published directly by the Institute for Supply Management on its website, ismworld.org.
When is the next ISM Services PMI released?
The following report, covering December 2026 data, is typically published on the first few business days of January 2027, in line with ISM’s usual monthly schedule.