Indicators
US Service Gauge Tops Estimates in Biggest Advance Since 2020
- ISM index rebounds with six-point gain in January to 55.2
- Orders measure matches highest since beginning of 2022
This article is for subscribers only.
A gauge of US services snapped back in January after an end-of-2022 slump, suggesting a resurgence in consumer demand that leans against concerns of an imminent economic slowdown.
The Institute for Supply Management’s non-manufacturing index rose 6 points to 55.2 in the largest monthly advance since mid-2020, data showed Friday. Readings above 50 signal growth and the January figure topped all estimates in a Bloomberg survey of economists.