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US services PMI revised slightly higher in December
(Sharecast News) - S&P Global's services PMI was revised slightly higher to 51.4 in December, up from a preliminary reading of 51.3, continuing to point to the strongest growth in the services sector in five months. New orders rose at the sharpest rate since June, with firms increasing hiring activity as a result.
Service providers also reported a steeper increase in input costs as a result of higher wages and food prices. However, efforts to boost new sales resulted in a slower uptick in output charges.
Elsewhere, business confidence edged higher on the back of optimism regarding further upticks in client demand, anticipated reductions in interest rates, and investment in advertising and new product development.
Reporting by Iain Gilbert at Sharecast.com
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