Services PMI Rises To 51.4 In December, Exceeding Expectations

Key Insights

• Services PMI increased from 50.8 in November to 51.4 in December. 
• Composite PMI improved from 50.7 to 50.9.
• The strong services sector provides significant support to U.S. economy.

On January 4, S&P Global released the final reading of Services PMI report for December. The report indicated that Services PMI improved from 50.8 in November to 51.4 in December, compared to analyst consensus of 51.3. Numbers above 50 show expansion.

Composite PMI increased from 50.7 in November to 50.9 in December. The U.S. manufacturing sector remains in the contraction territory, but the strong performance of the services sector provides sufficient support to the economy.

S&P Global…
Read More