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- U.S. services sector activity grows less than initially estimated in December - IHS Markit
U.S. services sector activity grows less than initially estimated in December - IHS Markit
The latest
report by IHS Markit revealed on Wednesday the seasonally adjusted final IHS
Markit U.S. Services Business Activity Index (PMI) stood at 54.8 in December, down
from 58.4 in November and lower than the earlier released “flash” estimate of 55.3.
The latest reading pointed to the slowest expansion in business activity across
the U.S. service sector since September.
Economists had
forecast the index to stay unrevised at 55.3.
According to
the report, new business saw the slowest growth for four months amid increased coronavirus
cases, while job creation expanded at a more modest pace than in
November and the level of optimism was down notably from that seen in November
and the lowest for three months.
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