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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
United StatesUS ISM Non-Manufacturing Business Activity climbed to 61.7 in August 2026
FMPMonthlyReleased September 2026
US ISM Non-Manufacturing Business Activity climbed to 61.7 in August 2026, released September 2026, up 2.6 from July's 59.1 reading.
Latest Release
61.700000
Actual
—
Consensus
59.100000
Previous
Median Absolute Error
±3.1
across last 12 releases
Last Call
Oct 2025
Predicted: 51.8
Actual: 49.9
Error: +1.9
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| NZD/USD | ▼ Inverse | −0.30 | FOREX | Moves against | → View |
| GBP/USD | ▼ Inverse | −0.30 | FOREX | Moves against | → View |
| MSFT | ▼ Inverse | −0.30 | STOCKS | Moves against | → View |
| XAU/USD | ▲ Direct | +0.28 | COMMODITIES | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
ISM Non-Manufacturing Business Activity (United States) was reported at 61.70 in September 2026. The reading rose from the previous value of 59.10. Trailing 12-month context per ETL data through September 2026. Over the past 12 months, the indicator has averaged 56.72, ranging from 49.90 to 61.70 across 9 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 59.50, up from the prior three at 57.77. Volatility over the past year (σ 3.33) is higher than the prior year (σ 1.80).
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with NZD/USD (Bearish NZD). Over the last 12 releases, the Sigmacast model's median absolute error is 3.10.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include NY Empire State Manufacturing Index (Sep 15) and NY Empire State Manufacturing Index (Sep 15).
Auto-generated from current model state · Refreshes on each release · Last update September 2026.
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ISM Non-Manufacturing Business Activity - US
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About ISM Non-Manufacturing Business Activity — United States
DEFINITION
The ISM Non-Manufacturing Business Activity is a key economic indicator that measures the level of business activity in the non-manufacturing sector. It provides valuable insights into the health and growth of the service-based industries, such as retail, healthcare, and finance. This indicator is closely monitored by investors, policymakers, and businesses as it can signal changes in consumer spending, employment, and overall economic activity. A higher reading indicates a stronger business activity, while a lower reading may suggest a slowdown in the non-manufacturing sector.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Aug 2026): actual 61.7. Prior reading (Jul 2026): 59.1. Before that (May 2026): 57.7.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection.
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EXPECTED ZONE
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Economic Calendar - US Events
| Monday, September 14, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 15:30 | US | 3-Month Bill Auction | 3.8 | 3.809 | 3.81 | Low | |
| Tuesday, September 15, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 12:30 | US | NY Empire State Manufacturing Index | 20.6 | 15 | 10.85 | High | |
| Wednesday, September 16, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 12:30 | US | Retail Sales MoM | -0.6 | 0.9 | 0.90 | High | |
| 12:30 | US | Retail Sales Ex Autos MoM | -0.3 | 0.5 | 0.50 | High | |
| 12:30 | US | Import Prices YoY | 5.9 | 6 | 6.35 | Low | |
| 12:30 | US | Retail Sales Ex Gas/Autos MoM | -0.2 | 0.1 | 0.10 | High | |
| 12:30 | US | Retail Sales YoY | 5 | 4.3 | 4.30 | High | |
| 12:30 | US | Export Prices MoM | -1.3 | -0.5 | -0.45 | Medium | |
| 12:30 | US | Import Prices MoM | -0.4 | 0.2 | 0.65 | Medium | |
| 12:30 | US | Export Prices YoY | 8.2 | 7.5 | 7.90 | Low | |
| 14:00 | US | Business Inventories MoM | 0 | 0.2 | 0.20 | Medium | |
| 14:00 | US | NAHB Housing Market Index | 35 | 34 | 33.50 | Medium | |
| 14:00 | US | Retail Inventories Ex Autos MoM | 0.7 | -0.5 | 0.7 | 0.70 | Low |
| 18:00 | US | Fed Interest Rate Decision | 3.75 | 4 | 4.00 | High | |
| 20:00 | US | Net Long-Term TIC Flows | 172.7 | 146.3 | 146.30 | Medium | |