The report below gives a good overview of the Fall 2023 M&A activity in the Business Services Industry Sector. The services sector saw its seventh straight month of expansion in July, with a Services PMI of 52.7%. This sector has grown in 37 of the past 38 months, with only one contraction in December of the previous year. The Business Activity Index stood at 57.1%, New Orders Index at 55%, Employment Index at 50.7%, and Supplier Deliveries Index at 48.1%. In September, U.S. business activity remained stagnant, particularly in the services sector, which operated at its slowest pace since February. Additionally, overall new order activity dropped to its lowest point this year. Currently, the business service industry is prioritizing investments and efforts towards optimizing operational aspects, including technology adoption, digital transformation, data-driven decision-making, and bolstering cybersecurity measures.
Posted by Brad Purifoy.