Service sector activity in the U.S. grew at a faster than expected pace in the month of December, the Institute for Supply Management revealed in a report on Tuesday.
The ISM said its non-manufacturing index climbed to 55.0 in December after dipping to 53.9 in November, with a reading above 50 indicating growth in the service sector. Economists had expected the index to inch up to 54.5.
"The non-manufacturing sector had an uptick in growth in December," said Anthony Nieves, Chair of the ISM Non-Manufacturing Business Survey Committee.
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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.