Two reports, two release days
Manufacturing and services are separate surveys, not two versions of one result. September actuals are pending. No numerical forecast is displayed without a verified dated source.
What matters beyond the headline
Read new orders for demand, employment for hiring conditions and prices for cost pressure. The same headline reading can accompany very different combinations of growth and inflation.
An index above 50 generally signals expansion in the surveyed sector compared with the preceding month. It does not measure a percentage change in GDP or guarantee a particular stock-market response.
Official release schedule
October release checklist
01
October 1 · Manufacturing
September manufacturing PMI, at 10:00 AM ET.
02
October 5 · Services
September services PMI, also at 10:00 AM ET.
03
Compare within the same series
Keep ISM separate from S&P Global; their samples and index construction differ.
ISM release questions
Are these October activity readings?
No. The October 1 and October 5 releases describe September business conditions.
Does a reading above 50 always help stocks?
No. Investors also assess expectations, prices, hiring and the implications for interest rates.