ISM services chart Feb 2023
ISM services
  • Services PMI index 55.1 versus 54.5 estimate. Prior month 55.2
  • employment index 54.0 versus 49.8 expected. Prior 50.0
  • new orders index 62.6 versus 58.5 expected. Prior 60.4
  • prices paid index 65.6 versus 64.5 expected. Prior 67.8
  • new export orders 61.7 versus 59.0 last month
  • imports 52.6 versus 53.0 last month
  • backlog of orders 52.8 versus 52.9 last month
  • inventories 50.6 versus 49.2 last month
  • supplier deliveries 47.6 versus 50.0 last month
  • inventory sentiment 55.3 versus 55.8 last month
  • Full report

The strong jump in new orders stands out. Prices cooled, but not much and perhaps not enough.Without knowing any of the context, you would look at this report and see a strong economy that's picking up. The US dollar is stronger on the report, understandably.

Comments in the report: