Purchasing Managers' Index - Services, July 2015
Services PMI rose to 56.6 in July: Consistent momentum
- The purchasing managers’ index for services (Services PMI) strengthened from 54.9 in June to 56.6 in July and has remained in the growth zone for over two years. With all sub-indices above the 50 mark and a three-month moving average that has continued to fluctuate around 56, the picture of solid growth in the service sector is holding firm.
- The sub-index for new orders rose in July by 0.5 points to 57.2, which coincides well with the quarterly average for April to June (57.1). The index for order backlogs also rose in July, from 47.7 to 53.7. While the summer months can be volatile, the shortterm trend in order backlogs has continued to fall.
- The sub-index for business volumes provided the biggest positive contribution to the Services PMI with a gain of 4.4 points to 59.8 in July. The moving average for three months signals persistent growth, and plans for the coming half-year are optimistic. The index for planned business volumes was 65.5 in July, the highest mark since March of this year.
- The index for suppliers’ intermediate goods rose by 1.4 points, from 57.1 in June to 58.5 in July. The index has stayed in the growth zone for a year, which means that the private service sector has faced rising costs.
PMI Services July 2015