Activity in the US services sector accelerated in December, driven by robust business activity and improved supplier deliveries, according to the Institute for Supply Management (ISM). The ISM's services index climbed to 54.1 percent, exceeding market expectations and signaling continued sector expansion.
WASHINGTON, D.C. — Activity in the US services sector picked up the pace last month, boosted by strong business activity and supplier deliveries, according to survey data published on Tuesday.The Institute for Supply Management's services rose to 54.1 percent in December from 52.1 percent a month earlier indicating that activity in the sector is continuing to expand.This was above the market consensus of 53.0, according to Briefing.com.
'Many industries noted that end-of-year and seasonal factors were helping drive business activity or impact inventory management,' he continued.Miller added that at least some of the increased business activity 'seems to have been driven by preparation for demand in the new year, or risk management for impacts from port strikes and potential tariffs.
ECONOMY SERVICES SECTOR ISM TARIFFS BUSINESS ACTIVITY
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