美国8月ISM服务业指数升至55.4（六个月最高）、支付价格指数72.6创2022年中以来新高，但该宏观数据已在10天前发布并被市场消化

The US service sector expanded in August by the most in six months, bolstered by strong demand and a pickup in business activity.

The Institute for Supply Management’s services index rose 1.3 points to 55.4, the highest level since February, according to data released Thursday. That exceeded the median estimate in a Bloomberg survey of economists. Readings above 50 indicate expansion.

New orders growth accelerated to the fastest pace since early 2023 while a measure of business activity was the strongest since 2022. Order backlogs expanded for the seventh consecutive month.

Twelve services industries reported growth in August, including mining, real estate and accommodation and food services. Five industries reported contraction.

US service industries have been helped by resilient consumer spending, a stable job market and healthy business investment. But they’ve also had to navigate supply-chain disruptions, tariffs and rising costs across the economy.

ISM’s measure of prices paid for materials and services in the sector climbed to 72.6 in August, the highest since mid-2022.

While inflation is well below its 2022 levels, measures of consumer and producer prices have climbed since the start of the Iran war in February and remain elevated, pressuring many businesses.

“Petroleum-related products, diesel, and gasoline were again reported as up in price in August,” Steve Miller, chair of ISM’s Services Business Survey Committee, said in a statement. “Graphics processing units (GPUs) and steel were added as commodities in short supply.”

High prices could be one reason businesses are reducing headcounts. ISM’s employment gauge has signaled contraction in five of the last six months.

Supplier delivery times remained in expansionary territory but the group’s measure fell to the lowest level in nearly a year, a possible sign that bottlenecks are slowly easing.

Select Industry Comments“General business conditions are positive. The challenges lie in managing through the dynamic nature of the administration’s policies — tariffs and Middle East conflict — that have caused numerous input cost headwinds for suppliers and us.” — Accommodation & Food Services“The bond market pushed 30-year mortgage rates up to 6.67 percent, reducing affordability and moving prospective buyers back to the sidelines... Rate buydowns and discounts have become the norm instead of the tool to drive traffic.” — Construction“The conflict in Iran and strain on the oil supplies has resulted in our paying higher cost for fuel. Locally, our economy continues to perform well, and our housing market is solid. We expect our enrollment to remain steady as long as the local economy stays strong.” — Educational Services“We received a few communications regarding tariffs that are being refunded. Fewer materials being back-ordered at this time.” — Health Care & Social Assistance“The stacked Section 301 duties plus the newer forced-labor related tariffs are keeping landed costs elevated and forcing constant TCO recalculation. We are actively dual-sourcing and evaluating nearshoring options, but qualified capacity, lead times and quality consistency are limited for certain specialty materials and components. The results are higher inventory buffers, longer planning cycles, and margin pressure that we can only partially pass through.” — Professional, Scientific & Technical Services“The memory shortage is continually getting worse. For devices requiring (memory) cards, inventory is low and prices are high.” — Retail Trade