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Purchasing Managers’ Index – Services, February 2015

04-03-2015 08:30

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

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