---
source: Institute for Supply Management
url: https://www.ismworld.org/supply-management-news-and-reports/reports/ism-pmi-reports/services/april/
document_type: html
date_retrieved: 2026-05-05
period: April 2026
parent_publication: ISM Services PMI Report
indicators_covered: [ISM Non-Manufacturing PMI, ISM Non Manufacturing Business Activity, ISM Non Manufacturing New Orders, ISM Non Manufacturing Employment, ISM Non Manufacturing Prices]
---

# ISM Services PMI Report — April 2026

**Services PMI® at 53.6%**

Economic activity in the services sector continued to expand in April, say the nation's purchasing and supply executives in the latest ISM® Services PMI® Report. The Services PMI® registered 53.6 percent, the 22nd consecutive month in expansion territory.

The report was issued today by Steve Miller, CPSM, CSCP, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee:

> "In April, the Services PMI® registered 53.6 percent, a decrease of 0.4 percentage point compared to March's figure of 54 percent. The Business Activity Index remained in expansion territory in April, increasing 2 percentage points to 55.9 percent from March's reading of 53.9 percent. The New Orders Index registered 53.5 percent, 7.1 percentage points below March's figure of 60.6 percent and 0.4 percentage point below its 12-month average reading of 53.9 percent. The Employment Index contracted for the second month in a row with a reading of 48 percent, a 2.8-percentage point increase from the 45.2 percent recorded in March."

> "The Supplier Deliveries Index registered 56.8 percent, 0.6 percentage point higher than the 56.2 percent recorded in March. This is the 17th consecutive month that the index has been in expansion territory, indicating slower supplier delivery performance. (Supplier Deliveries is the only ISM® PMI® Reports index that is inversed; a reading of above 50 percent indicates slower deliveries, which is typical as the economy improves and customer demand increases.)

> "The Prices Index held steady at 70.7 percent in April, the same as March's figure and repeating its highest reading since October 2022 (70.7 percent). The index has exceeded 60 percent for 17 straight months, increasing its 12-month average from 67.2 percent to 67.7 percent. Diesel, gasoline, oil and related price increases were the most frequently mentioned commodities up in price in April."

The Inventories Index registered 53.1 percent, down 1.7 percentage points from March's figure of 54.8 percent and its second straight month-over-month decrease. The Inventory Sentiment Index expanded for the 36th consecutive month, registering 55.1 percent, up 0.8 percentage point from March's figure of 54.3 percent, 0.6 point below its 12-month average. The Backlog of Orders Index remained in expansion territory for a third straight month for the first time since February 2023, registering 53 percent in April, a 0.6-percentage point decrease from the March figure of 53.6 percent. The New Export Orders and Imports indexes both remained in expansion territory for the third month in a row. The New Export Orders Index increased to 52.1 percent, 1.4 percentage points above its March reading of 50.7 percent, and the Imports Index registered 54.7 percent, a decrease of 0.5 percentage point compared to its March reading of 55.2 percent.

Fourteen industries reported growth in April, one more than in March, and the number reporting contraction remained at three. The April Services PMI® reading of 53.6 percent is 1.1 percentage points above the 12-month average of 52.5 percent. That average is an uptick of 0.2 percentage point over March's 12-month average of 52.3 percent.

Miller continues, "April's Services PMI® features the fourth month in a row with an increase in the 12-month PMI® average, up 0.8 percentage point from 51.7 percent in December 2025 to its current 52.5 percent. The Prices Index was flat but remained above 70 percent, amid sustained higher oil and fuel costs. The Supplier Deliveries Index indicated slower performance compared to March, coming in at 3.9 percentage points above its 12-month average. Increases in the Business Activity, Supplier Deliveries, and Employment indexes were more than offset by a 7.1 percentage point drop in the New Orders Index. Ongoing commentary that increased ordering is related to getting ahead of future price increases seems to have been more applicable to March than April; however, the Backlog of Orders Index remained in expansion territory, well above its 12-month average of 46.4 percent.

"Exports and imports activity remains strong and have expanded for three months in a row for the first time since a four-month run from July through October 2024. For the second month in a row, there are no commodities in the report listed as down in price, with aluminum, copper, lumber, petroleum products and software licensing continuing multimonth runs of being up in price. There were several comments from respondents stating that they have yet to see petroleum price increases impacting petroleum-related products, so we expect to see continued elevated readings for the Prices Index for some time."

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## Indicator Values Summary

| Indicator | April 2026 | March 2026 |
|-----------|------------|------------|
| Services PMI® | 53.6% | 54.0% |
| Business Activity Index | 55.9% | 53.9% |
| New Orders Index | 53.5% | 60.6% |
| Employment Index | 48.0% | 45.2% |
| Prices Index | 70.7% | 70.7% |

All figures are seasonally adjusted diffusion indexes. Values above 50 indicate expansion; below 50 indicate contraction.