The Institute for Supply Management released a report on Wednesday showing an unexpected increase by its reading on U.S. service sector activity in the month of December.
The ISM said its services PMI climbed to 54.4 in December from 52.6 in November, with a reading above 50 indicating growth. Economists had expected the index to edge down to 52.3.
"The December Services PMI reading of 54.4 percent is 2.7 percentage points above the 12-month average of 51.7 percent," said Steve Miller, Chair of the ISM Services Business Survey Committee.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.