Past Release · ISM Services
July 2023 ISM Services Report
Saturday, July 1, 2023
ISM Services printed at 71.50, a +11.37% move from the prior reading of 64.20.
Headline Reading
Consumer Sentiment (Michigan)→71.50
Jul 1
Prior
64.20
Absolute
+7.30
Percent
+11.37%
What to Watch For
- •Headline ISM Services vs 50
- •Business activity subindex
- •New orders
- •Employment
- •Prices, services inflation proxy
Expected Market Reaction
Given services dominance, ISM Services moves matter more for overall economic read. Hot prices subindex is hawkish for bonds. Weak business activity with hot prices = stagflation signal.
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