The Institute for Supply Management reported an unexpected increase in U.S. service sector activity in December, with the services PMI rising to 54.4 from 52.6 in November. This is the highest level since October 2024. New orders and employment also saw significant growth, with the employment index reaching 52.0. The business activity index climbed to 56.0, while the prices index fell to 64.3. In contrast, U.S. manufacturing activity unexpectedly decreased in December, with the manufacturing PMI dropping to 47.9, the lowest reading since October 2024. Economists had expected a slight increase to 48.3.

Read more at Nasdaq: U.S. Services Index Unexpectedly Climbs To Highest Level In Over A Year In December