The ISM Services PMI in the US fell to 54.0 in June 2026, down from 54.5 in May, matching market expectations.
The reading still indicates solid expansion in US services activity, though at a softer pace, driven by a slowdown in business activity growth (55.4 vs. 57.7 in May) and new orders (55.1 vs. 57.3).
Meanwhile, employment levels rose for the first time since February (51.2 vs. 47.9), and price inflation eased to a four-month low (67.7 vs. 71.3).
Survey respondents expressed ongoing concerns about persistent inflation due to the Middle East war but noted that business conditions remain strong.