A reading on U.S. service sector activity climbed by much more than expected in the month of September, reaching its highest level in well over a year, according to a report released by the Institute for Supply Management on Thursday.
The ISM said its services PMI shot up to 54.9 in September from 51.5 in August, with a reading above 50 indicating growth. Economists had expected the index to inch up to 51.7.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.