Welcome to TPwithUS Forex Signal and Analysis Site! Here we share with you ISM Services PMI of the United States in the last week of December 2023
United States ISM Services PMI
The Non-Manufacturing ISM Report On Business is based on data compiled from purchasing and supply executives nationwide.
Survey responses reflect the change, if any, in the current month compared to the previous month.
For each of the indicators measured (Business Activity, New Orders, Backlog of Orders, New Export Orders, Inventory Change, Inventory Sentiment, Imports, Prices, Employment, and Supplier Deliveries) this report shows the percentage reporting each response, and the diffusion index.
An index reading above 50 percent indicates that the non-manufacturing economy in that index is generally expanding, Below 50 percent indicates that it is generally declining.
Orders to the service producers make up about 90 percent of the US economy.
The ISM Services PMI unexpectedly fell to 50.6 in December 2023
ISM Services PMI was 50.6 in December 2023, this is the lowest reading in seven months, compared to 52.7 in November and market forecasts of 52.6.
New orders slowed sharply (52.8 vs 55.5) and both employment (43.3 vs 50.7) and inventories (49.6 vs 55.4) contracted.
On the other hand, production growth accelerated (56.6 vs 55.1) and price pressures eased (57.4 vs 58.3).
Also, supplier delivery performance was ‘faster’ (49.5 vs 49.6).
“Respondents’ comments vary by both company and industry.
There are concerns related to economic uncertainty, geopolitical events, and labor constraints”,
Anthony Nieves, Chair of the Institute for Supply Management Services Business Survey Committee said.
Thanks for reading The United States ISM Services PMI in the last week of Dec 2023 with the US,
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source: https://tradingeconomics.com/united-states/non-manufacturing-pmi
