The Services PMI published by ISM has slipped into contractionary territory in December, losing 6.9 points to 49.6 compared to 56.5 in November, this being its worst result since May 2020. The figure disappoints the 55 points estimated by the market consensus
The ISM non-manufacturing employment index has fallen to 49.8 from 51.5. below the expected 50.2
The prices paid index has fallen to 67.6, its weakest result since January 2021. The previous month it stood at 70 and for today an increase to 71.5 was estimated.
Finally, the new orders index has plummeted to 45.2 from the previous 56 points, standing well below the 58.5 forecast by experts. This is the lowest figure recorded since May 2020.
EUR/USD reaction
The EUR/USD it has rallied over 30 pips on the data, rising to fresh daily highs at 1.0556. At time of writing, the pair is trading above 1.0551, gaining 0.30% daily.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
