ISM Services Index Hits 9-year High
October 3, 2018
The Institute of Supply Management’s services index reached 61.6 in September, up from August’s 58.5. This marks the highest reading since the ISM established the composite reading in 2008, and the second-highest reading overall since the survey began in 1997.
The index is based on a survey of more than 400 business executives in non-manufacturing industries. A reading above 50 is viewed as a positive indicator for the economy, and anything above 55 is considered exceptional.