- ISM Non-Manufacturing rose to 55 in December from 53.9.
- US Dollar Index extends rebound beyond the 97 mark.
The business activity in the US’ service sector expanded at a strong pace in December with the Institute for Supply Management’s (ISM) Non-Manufacturing PMI improving to 55 from 53.9 in November. This reading came in better than the market expectation of 54.5.
The US Dollar Index inched higher on the back of upbeat data and was last up 0.42% on the day at 97.02.
Commenting on the data, “the non-manufacturing sector had an uptick in growth in December,” noted Anthony Nieves, Chair of the Institute for Supply Management (ISM) Non-Manufacturing Business Survey Committee. “The respondents are positive about the potential resolution on tariffs. Capacity constraints have eased a bit; however, respondents continue to have difficulty with labor resources.”