November 2021 ISM® Report On Business®: Services

In October, the Services PMI^® registered 66.7 percent, a 4.8-percentage point increase compared to the September figure of 61.9 percent. This is the highest reading since the inception of the index in 2008. The 12-month average is 61.1 percent, which reflects the strong demand in the services sector. This reading indicates the services sector grew for the 17th consecutive month after two months of contraction and 122 months of growth prior to the two contracting months.