ISM data service sector survey data
- Prior 58.0 (unrevised)
- Matches lowest since July
- Prices paid 59.4 vs 58.0 prior
- New orders 57.7 vs 62.7 prior-- lowest since Dec 2017
- Employment 57.8 vs 56.6 prior
There was a drop in new export orders to 50.5 from 59.5 and that's the worst in two years. It suggests a slowdown abroad is taking place but that domestically there is -- at worst -- a hiccup.
New export orders:
Here is the commentary in the report, it stresses issues around the shutdown:
- "Business has slowed well below expectations as our customers deal with the effects of economic situations exacerbated by the government shutdown." (Construction)
- "The government shutdown is not affecting our business at this time." (Finance & Insurance)
- "Prices are volatile due to tariff restrictions." (Management of Companies & Support Services)
- "We are trying to hold out through the government shutdown. Currently, our work is continuing with already obligated prior-year funds. We have not had to suspend any activities. The shutdown is affecting the United States Agency for International Development's [USAID] and the Department of State's ability to process actions, share information or plan for the future. That is the shutdown's effect on us. The longer it lasts, the greater the disruption." (Professional, Scientific & Technical Services)
- "Apprehension regarding overall economic conditions due to uncertainly of the partial government shutdown, its effect on business climate and lack of national strategic direction. Economic activity remains strong locally; however, there is concern that this may change quickly due to uncertainty and reports of slowing economic indicators." (Public Administration)
- "Order input stable, and supplier deliveries growing. The industry is struggling with capacity constraints." (Real Estate, Rental & Leasing)
- "Things are steady. We're trying to mitigate any impact of the tariffs." (Retail Trade)
- "The shutdown and potential delay in tax refunds will hurt our business." (Wholesale Trade)
- "Central processing unit (CPU) shortages continue to impact fulfillment of orders." (Transportation & Warehousing)
