US Service PMI Cools by 7.1% In December After Hitting a Record in November

Source: Institute for Supply Management

US Services PMI was recorded at 62% in December, declining by 7.1 percentage points from an all-time high of 69.1% in November. DJI is down -0.19%, DXY is down -0.03%.

• The overall business activity index fell by 7 percentage points to 67.6%.
• New orders index edged lower by 8.2 percentage points to 61.5% after hitting an all-time high of 69.7 in November.
• The Supplier Deliveries Index fell by 11.8 percentage points to 63.9%, as the Prices Index edged higher by 0.2 percentage points to 82.5%.
• Businesses struggled to fill up inventories, with the index down by 1.5 percentage points to 46.7%. The Inventory Sentiment Index stayed in the contraction at 38.3%, up by 1.9 percentage points.