ISM: February services sector activity grows for eighth consecutive month

Services sector growth stayed the course in February, for the eighth consecutive month, according to the latest edition of the Services ISM Report on Business, released today by the Institute for Supply Management (ISM).

The February Services PMI, at 54.4 (a reading of 50 or higher signals growth) was up 0.7% compared to January, growing, at a faster rate, for the eighth consecutive month, and for the 54^th time in the last 57 months, going back to the initial recovery from the pandemic in June 2020.  

And the February Services PMI was 1.9% above the 12-month average of 52.5, with October’s 55.8 and June’s 49.2 marking the respective high and low readings over that period.

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