USA: ISM services index exceeds expectations

(CercleFinance.com) - Growth in US service sector activity accelerated more than expected in December, according to the monthly survey by the Institute for Supply Management (ISM) published on Tuesday.


The ISM services index rose to 54.1 from 52.1 the previous month, while economists were expecting an average figure of 53.5.

The indicator rose above the 50-point threshold, testifying to growth in activity for the 52nd time in 55 months, i.e. since the recovery from the Covid epidemic that began in June 2020.

The sub-index measuring activity in the service sector climbed to 58.2 from 53.7 in November, while that for new contracts improved to 54.2 from 53.7 the previous month.

The employment sub-index eased to 51.4 from 51.5 in November, while prices paid accelerated to 64.4 from 58.2.

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