US ISM Services PMI January 2027
January 5, 2027 @ 10:00 am - 11:00 am
US ISM Services PMI January 2027
Next US ISM Services PMI: Tuesday, 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…
- Prior
- 52.6
- Actual
- Pending
Full schedule and background: US ISM Services PMI.
Updated
The US ISM Services PMI for December 2026 is scheduled for release on Tuesday, January 5, 2027 at 10:00 am ET (3:00 pm London). The report is published by the Institute for Supply Management (ISM) and covers business activity in the services sector, which makes up roughly 70% of the US economy. Full schedule and background: US ISM Services PMI.
What is the ISM Services PMI?
The ISM Services Purchasing Managers’ Index is a monthly survey of purchasing and supply executives at more than 375 service-sector firms, spanning industries such as finance, healthcare, retail, transport and professional services. Respondents are asked whether business activity, new orders, employment, supplier deliveries and prices paid are better, worse or the same compared with the previous month.
The headline index is diffusion-based: a reading above 50 signals expansion in the services economy, while a reading below 50 signals contraction. Because services make up the largest share of US output and employment, the index is one of the most closely watched signals of underlying economic momentum, alongside its manufacturing counterpart, the ISM Manufacturing PMI.
Investors, central bankers and currency traders use the report to gauge whether demand and pricing pressure are building or fading. A sharp move in either direction can shift expectations for Federal Reserve policy and ripple through bond yields, the dollar and equity markets in London, Frankfurt and Tokyo.
When is the December ISM Services PMI released?
The release is provisionally dated January 5, 2027 at 10:00 am ET (3:00 pm London time). The Institute for Supply Management has not yet confirmed this exact date on its official calendar. ISM typically publishes the Services PMI on the third business day of the month, so the January 2027 date should be treated as an estimate until ISM formally confirms it closer to the time.
The report is published directly on the ISM website and is simultaneously distributed to major financial news wires.
What is the consensus forecast?
A consensus forecast for the December 2026 ISM Services PMI has not yet been published. Economist surveys from Bloomberg and Reuters typically appear only a few days before the release, so no figure is currently attributable for this specific report.
The most recent confirmed reading at the time of writing was for November 2025, when the Services PMI registered 52.6%, marking expansion for the ninth time in 2025, according to the ISM’s official November 2025 report. Readers should check the hub page nearer the release date for the December 2026 prior figure and any published consensus.
| Measure | Prior | Consensus |
|---|---|---|
| Headline Services PMI | To be confirmed nearer the release | Not yet published |
| Business Activity Index | To be confirmed nearer the release | Not yet published |
What the result could mean
| Scenario | Likely market read | What it means in plain English |
|---|---|---|
| Above consensus | Seen as a sign of resilient demand, which could push back expectations of interest rate cuts and support the dollar | Services businesses are busier than expected, which can keep prices and borrowing costs higher for longer |
| In line with consensus | Generally a limited market reaction, since the data confirms what was already priced in | The economy is behaving roughly as expected, so little changes for savers or borrowers immediately |
| Below consensus | Often read as a sign of slowing momentum, which can raise expectations of a more dovish (rate-cut-friendly) Federal Reserve stance | A weaker services sector can eventually feed through to softer hiring and slower wage growth |
These are possibilities discussed by market commentators, not predictions. Analysts at outlets such as Reuters and Bloomberg typically frame their reaction notes around how far the actual figure diverges from the polled consensus, not the absolute level alone.
Why does this release matter right now?
The Federal Reserve monitors the services PMI closely because it captures price and employment trends in the largest part of the US economy, which is not fully visible in manufacturing-focused indicators. The prices-paid component within the survey is particularly watched as an early signal of inflation pressure building in the pipeline.
Through 2025, the ISM Services PMI generally stayed in expansion territory, with the November 2025 reading of 52.6% marking a ninth month of growth for the year, according to ISM’s own release. Whether that trend of steady, moderate expansion continues into late 2026 will shape how policymakers weigh the balance between slowing inflation and a still-functioning labour market.
Because this report is scheduled more than a year ahead of publication, the specific economic backdrop for December 2026 cannot be known in advance. What matters for readers checking this page closer to the release date is the trajectory: whether the services sector has been accelerating, holding steady, or slowing in the months immediately preceding it, and how that compares with the manufacturing sector’s performance over the same period. Traders in London, Frankfurt and Singapore tend to react most strongly when the services reading diverges sharply from the manufacturing PMI, since that divergence can signal an uneven, two-speed economy.
Global investors also watch the prices-paid sub-index within the report as a proxy for services inflation, which has historically proven stickier than goods inflation in both the US and Europe. A sustained rise in this component, even alongside a stable headline figure, can be enough to shift Federal Reserve rate expectations and, by extension, expectations for the Bank of England and European Central Bank given how closely the three institutions’ policy paths are watched in tandem by global bond markets.
What It Means for Your Money
- Mortgages and borrowing: A stronger-than-expected services reading can reduce expectations of near-term interest rate cuts, keeping mortgage and loan rates elevated for longer in the US, and indirectly influencing rate expectations in the UK and eurozone.
- Savings: If the report suggests inflation pressure is building, savings account and money market rates tend to stay higher for longer as central banks hold off on cuts.
- Jobs and wages: The employment component of the survey offers an early read on hiring intentions in services firms, which can hint at future job openings and wage growth trends.
- Investments and pensions: Equity markets, including pension funds with US equity exposure, can react to surprises in the report, particularly in interest-rate-sensitive sectors such as technology and property.
- Currencies: A stronger print tends to support the dollar against the pound and euro, since it can delay Federal Reserve rate cuts, while a weaker print can weigh on the dollar.
Related events
- Previous release: US ISM Services PMI, December 2026
- US ISM Manufacturing PMI, released a few days earlier each month, offers a comparable read on the factory sector.
- US nonfarm payrolls, typically released the same week, provides the broader labour market context that complements the services survey’s employment component.
Frequently Asked Questions
What time is the ISM Services PMI released?
It is released at 10:00 am ET, which is 3:00 pm in London, on the day ISM confirms for that month.
How do I read the ISM Services PMI number?
A reading above 50 signals the services sector is expanding compared with the prior month, while a reading below 50 signals contraction.
How does the ISM Services PMI affect interest rates?
Strong readings can suggest inflation risk and reduce the likelihood of near-term rate cuts, while weak readings can increase the odds of cuts, according to how markets typically price Federal Reserve expectations around the report.
Where can I find the official ISM Services PMI report?
The official release is published on the Institute for Supply Management’s website.
When is the next ISM Services PMI release?
The following month’s report is typically published on the third business day of the following month; check the hub page for the confirmed date.