US: ISM Services PMI falls to 62.0 in December Below Expectations

The Institute of Supply Management’s headline Services PMI index fell to 62.0 in December versus forecasts for a fall to 66.9 from 69.1 in November.
Business Activity fell to 67.6 from 74.6.
Prices Paid rose to 82.5 from 82.3.
New Orders fell to 61.5 from 69.7, the lowest such reading since February 2021.
Employment fell to 54.9 from 56.5.
As for the market reaction, the DXY does not seem to have reacted much to the latest US ISM survey, even though it was a tad weaker than forecast.

The Institute for Supply Management’s (ISM) Services Purchasing Managers Index (PMI) reveals the current conditions in the US service sector, which has historically been a large GDP contributor.

A print above 50 shows expansion in the service sector’s economic activity. Stronger-than-expected readings usually help the USD gather strength against its rivals. In addition to the headline PMI, the Employment Index and the Prices Paid Index figures are also watched closely by investors as they provide useful insights to traders and investors.