{"id":435507,"date":"2026-08-05T21:00:21","date_gmt":"2026-08-05T14:00:21","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/us-july-ism-services-index-54-1-vs-54-5-expected-435507\/"},"modified":"2026-08-05T21:00:21","modified_gmt":"2026-08-05T14:00:21","slug":"us-july-ism-services-index-54-1-vs-54-5-expected","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/us-july-ism-services-index-54-1-vs-54-5-expected-435507\/","title":{"rendered":"US July ISM services index 54.1 vs 54.5 expected"},"content":{"rendered":"<div>\n<ul>\n<li>Prior was 54.0<\/li>\n<li>Prices paid 70.3 vs 67.7 prior<\/li>\n<li>New orders 57.2 vs 55.1 prior<\/li>\n<li>Employment 47.4 vs 51.2 prior<\/li>\n<li>Business activity 59.1 vs 55.4 prior<\/li>\n<\/ul>\n<p>The S&amp;P Global final PMI for July was released shortly before this report and was at 54.6 vs 53.6 previously, that was an 8-month high. This report missed but there were some positive signs in business activity and new orders. The big drag is employment, which fell back below 50, and in a big way. That might reflect temporary jobs in the World Cup and USA 250 celebrations but it&#8217;s somewhat worrisome to have weakening employment at the same time as rising inflation. This raises the stakes somewhat for Friday&#8217;s non-farm payrolls report and adds downside risks. Today&#8217;s ADP employment number was also soft.<\/p>\n<p>Comments in the report:<\/p>\n<ul>\n<li>\u201cOverall volume of business is slightly down for the year.\u201d [Agriculture, Forestry, Fishing &amp; Hunting]<\/li>\n<li>\u201cSales continue to slide despite increased discounts. Mounting cost pressures from all fronts.\u201d [Construction]<\/li>\n<li>\u201cEconomic conditions remain stable. Banking activity continues to be<br \/>\n supported by healthy commercial client demand, though businesses remain<br \/>\n cautious amid interest rate and inflation uncertainty. Overall outlook<br \/>\nremains positive for both the banking industry and my company.\u201d [Finance<br \/>\n &amp; Insurance]<\/li>\n<li>\u201cIn the tertiary care segment of hospital operations, patient<br \/>\nvolumes, revenue and activity across the board are up, and given the<br \/>\neconomic climate, this was an unexpected result. Supply chains are<br \/>\noperating as expected: There are few, if any, impactful back orders,<br \/>\ndeliveries are consistent and fill rates are up. Employment is still in<br \/>\nhigh demand, yet our institution appears to be faring well as full-time<br \/>\nemployee positions are filling without excessive recruitment. Forecast<br \/>\nremains above average.\u201d [Health Care &amp; Social Assistance]<\/li>\n<li>\u201cBusiness is starting to pick up especially with smaller firms. Just<br \/>\n hope it keeps improving.\u201d [Management of Companies &amp; Support<br \/>\nServices]<\/li>\n<li>\u201cUncertainty on how the Iran conflict will impact the price of oil,<br \/>\nas well as the knock-on effect to construction and other materials. The<br \/>\ncity has several capital projects pending and ongoing, which will be<br \/>\nimpacted.\u201d [Public Administration]<\/li>\n<li>\u201cNetwork gear supply (internet access points and switches) for store<br \/>\n equipment set up on four- to six-month lead times; needing to place<br \/>\nlarge order in anticipation of new store openings in order to have<br \/>\nsufficient network gear to run the store.\u201d [Retail Trade]<\/li>\n<li>\u201cConditions are largely unchanged from last month. The exception is<br \/>\npricing, which continues to rise, driven mainly by fuel and labor costs.<br \/>\n Demand remains stable.\u201d [Transportation &amp; Warehousing]<\/li>\n<li>\u201cElectric utility materials continue to be in high demand, causing<br \/>\ncompetition among utilities for production slots. Furthermore, more<br \/>\nsuppliers are requiring progress payments or a down payment on goods as<br \/>\npart of PO agreements.\u201d [Utilities]<\/li>\n<li>\u201cBusiness is more robust than expected, considering some of the<br \/>\neconomic headwinds still plaguing the industry. Lumber supply is<br \/>\ntighter, and freight rates and availability are challenges. Many of our<br \/>\nbuilders are pushing back hard on price increases. However, the outlook<br \/>\nis favorable for the remainder of 2026.\u201d [Wholesale Trade]<\/li>\n<\/ul>\n<\/p>\n<p>                            This article was written by Adam Button at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Prior was 54.0 Prices paid 70.3 vs 67.7 prior New orders 57.2 vs 55.1 prior Employment 47.4 vs 51.2 prior Business activity 59.1 vs 55.4 prior The S&amp;P Global final PMI for&hellip;<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-435507","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/435507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=435507"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/435507\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=435507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=435507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=435507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}