ISM Services stands at 54.5 as of May 2026, up from 50.2 a year earlier. The reading sits in the 43rd percentile of its history back to 1997.
| Latest (May 2026) | 54.5 |
| One year ago | 50.2 |
| 10-year range | 41.7 – 67.5 |
| Percentile vs. full history | 43rd |
| History | 1997–2026 (347 observations) |
The ISM Services PMI, covering the much larger services side of the economy. Same scale as the manufacturing survey: above 50 expansion, below 50 contraction. Services weakness is rarer and more alarming than manufacturing weakness.
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<a href="https://www.tacticalassetallocation.com/charts/ism-services-pmi/">ISM Services — Cambria Chart Lab</a>