Business Activity Index at 60.4%; New Orders Index at 60.4%; Employment Index at 50%; Supplier Deliveries Index at 50% This report reflects the recently completed annual adjustments to the seasonal factors used to calculate the indexes. TEMPE, Ariz., Feb. 3, 2023 /PRNewswire/ — Economic activity in the services sector grew in January after contracting in December following 30 consecutive months of growth, with the Services PMI ® registering 55.2 percent, say the nation’s purchasing and supply executives in the latest Services ISM ® Report On Business ® . The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management ® (ISM ® ) Services Business Survey Committee: "In January, the Services PMI ® registered 55.2 percent, 6 percentage points higher than December’s seasonally adjusted reading of 49.2 percent. The composite index grew in January after contracting in December for the first time since May 2020, when it registered 45.4 percent (seasonally adjusted). The Business Activity Index registered 60.4 percent, a 6.9-percentage point increase compared to the seasonally adjusted reading of 53.5 percent in December. The New Orders Index grew in January after contracting in December for the first time since May […]