Another sign of slowdown in the US: the services sector is growing at a slower pace in December: 56.2 points in the ISM Non-Manufacturing PMI. The employment component suffered a more moderate slide: to 56 from 56.7 points. This may be the sliver lining in the report. Other components experienced bigger drops: new orders dropped under 60 and prices paid under 50 points.
This joins other not-so-impressing figures.
US factory orders for November fell by 0.7% worse than a drop of 0.3% expected. The manufacturing sector wasn’t doing too well, with a slide in the manufacturing PMI reported on Friday.
Earlier, the final services PMI was revised to the downside: from 53.6 to 53.3 points.
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