Services PMI 51.4, showing 26 consecutive months of expansion in services activity
- expected 50.8
- prior 51.0
Composite 51.5
- prior 51.1
More
- Supply and demand increased, supported by new product launches and stronger promotional efforts.
- New orders remained strong, with export orders hitting a three-month high while staying in expansionary territory.
- Employment remained stable, with a slight increase in hiring, though many firms remained cautious.
- Price pressures eased, as input costs fell for the first time since June 2020, leading to slight output price reductions.
- Market sentiment improved, with expectations for future activity rising for the second month in a row.
- Service firms remained optimistic, planning more aggressive sales strategies to drive growth.
***
Earlier:
This article was written by Eamonn Sheridan at www.forexlive.com.
