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Huge Miss In ISM Services As New Orders, Activity Collapse

US

December marked a huge miss in ISM services (49.6 vs 55.0 expected) and the first sub-50 reading in ISM Services since May 2020.

  • Big declines in New Orders (from 56.0 to 45.2) and Activity/Production (from 64.7 to 54.7) stand out; employment (below 50) and prices also weaker.
  • See table below:

Source: ISM

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