Summary
- The final reading of the U.S. December Service PMI was reported to be 56.8, falling short of the market expectation of 58.5.
- This announcement suggests that the U.S. service sector continues to expand, rising from 56.1 to 56.8.
- The Service PMI is an important indicator used to gauge whether the industry is expanding, with 50 as the baseline.
The final reading of the U.S. December Service Purchasing Managers' Index (PMI) fell short of market expectations.
On the 6th (local time), according to the PMI report released by S&P Global, the final reading of the U.S. December Service Purchasing Managers' Index was 56.8, below the market expectation of 58.5. The announced Service PMI index recorded a higher figure than last month (56.1), indicating that the U.S. service sector is expanding.
PMI uses 50 as the baseline to gauge whether the service industry is expanding or contracting.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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