MTSI Services PMI Composite Indexes: October 2025 (Final)
| Index | September 2025 | October 2025 |
|---|---|---|
| General PMI | -1.00 | -0.54 |
| Activity | -0.98 | -1.17 |
| Revenue | -1.00 | -1.29 |
| New Orders | -0.82 | -1.46 |
| Employment | -1.13 | -1.52 |
| Prices Paid | 0.48 | 0.42 |
| Prices Received | 0.15 | 0.20 |
| Wages | -0.70 | -0.44 |
The MTSI Services PMI General PMI Composite Index improved to -0.54 in October (from -1.00 in September), signaling a slower pace of contraction across the service sector as cost pressures moderated slightly, with all PMIs reported.
- The Activity, Revenue, and New Orders indexes all fell after a brief improvement in August, suggesting operating conditions continue to be volatile for services firms.
- The Employment index has dropped to the lowest in the post-pandemic period, down from -1.13 in September to -1.52 in October.
- The price indexes didn’t move much, but Prices Paid did ease slightly while Prices Received increased slightly. Both are generally above where they were in Q1.
- Indicators of wage growth continue to trend below the norm, falling from stronger readings in 2023 and 2024.
