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Servicesector

All articles tagged with #servicesector

"December ISM Services Dip to 50.6 Signals Sharp Activity Decline and Employment Low, Impacting Gold and Bonds"

Originally Published 2 years ago — by ForexLive

The US December ISM services index came in at 50.6, lower than the expected 52.6, indicating a slower expansion in the service sector than anticipated. Key components such as the employment index and prices paid index also showed a decline, suggesting dovish economic conditions. Comments from various sectors highlighted issues like high beef prices, Panama Canal congestion, labor constraints, and the need for expense reduction. Despite these challenges, some areas like mining and retail trade reported positive trends, and there is a general sense of stability returning to supply chains. The report is considered a forward-looking indicator, contrasting with the lagging nature of non-farm payrolls data.

business economy economicindicators economy ismservices servicesector supplychain useconomy

"December 2023 ISM Report: Services Sector Growth Slows, Employment Hits Multi-Year Low"

Originally Published 2 years ago — by PR Newswire

The December 2023 Services ISM® Report On Business® revealed that the Services PMI® stood at 50.6%, indicating expansion in the services sector for the 12th consecutive month, albeit at a slower pace than in November. The Business Activity Index increased to 56.6%, while the New Orders Index decreased to 52.8%. The Employment Index showed contraction at 43.3%, and the Supplier Deliveries Index indicated faster deliveries at 49.5%. The report suggests overall growth in the services sector, with nine industries reporting growth, but there are concerns about economic uncertainty and labor constraints.

business business-and-economy business-and-economy businessindex economicactivity ismreport servicesector servicespmi