Purchasing Managers’ Index – Services, February 2015
Services PMI drops to 56.7 in February: All sub-indices remain in the growth zone, but the price index is approaching the 50 mark
- The purchasing managers’ index for the service sector (Services PMI) declined by 1.2 points to 56.7 in February. The sub-index for business activity made a positive contribution of 0.4 points, while supplier delivery times, new orders and employment made a negative contribution to the main index.
- While the sub-index for business activity rose to 59.9 in February, the index for planned business activity indicates a slower rate of growth for the next six months. The subdued plans coincide with a lower sub-index for new orders, which came in at 56.8. The index for order backlogs fell as well but remains in the growth zone.
- The employment sub-index fell from 58.8 in January to 56.4 in February. However, a three-month moving average indicates that the need to hire employees continues to rise, which is also confirmed by the sub-index's position over the 50 mark since February 2014.
- The index for suppliers’ intermediate goods prices dropped from 54.8 in January to 50.7 in February. The price index has now declined for the second consecutive month.
PMI-Services, February 2015