U.S. service sector demand cooled in October 2026, with the ISM Non-Manufacturing New Orders Index slipping to 55.9 from 59.8 in September. The latest reading, released on 4 November 2026, still signals expansion in new business for the services economy, but at a slower pace than the prior month.
The decline of nearly four points from September’s level suggests that while service providers continue to see growth in incoming orders, the vigorous momentum seen earlier in the autumn has moderated. With the index remaining comfortably above the 50-point threshold that separates expansion from contraction, October’s data point to a services sector that is still growing, but with reduced intensity compared to September 2026.
