Service sector activity in the U.S. unexpectedly grew at a faster pace in the month of February, according to a report released by the Institute for Supply Management on Wednesday.
The ISM said its services PMI climbed to 56.1 in February from 53.8 in January, with a reading above 50 indicating growth. Economists had expected the index to edge down to 53.6.
With the unexpected increase, the services PMI reached its highest level since hitting 56.5 in July of 2022.
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Forex 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.