US Services Index Climbs, Price Gauge Hits Highest Since 2023
- ISM December services PMI increases 2 points to 54.1
- Index of prices shows broad-based increases across sectors
Employees gather online orders at a market fulfillment center in Grapevine, Texas.
Photographer: Dylan Hollingsworth/BloombergThis article is for subscribers only.
Growth at US service providers quickened in December, reflecting stronger business activity that helped push a price measure to the highest since early 2023.
The Institute for Supply Management’s index of services advanced 2 points to 54.1 last month, the group said Tuesday. Readings above 50 indicate expansion. The measure of prices paid for materials and services rose more than 6 points to 64.4.