The United States PMI Composite Output Index came in at 52.7 in January, increasing from 52.4 reported in December last year, S&P Global revealed in its final report published on Wednesday.
The US Services Business Activity Index stood at 52.9 in January, falling from 56.8 in December, indicating a slight expansion in service sectors' business activity. On the other hand, the pace of output expansion decreased, reaching its lowest since April 2024.
"Service sector businesses reported a slowdown at the start of 2025, with activity levels growing at a reduced pace compared to the robust gains seen late last year. Looking at the manufacturing and services PMI surveys together, a 1.6% annualized GDP growth rate is signaled for January. That compares with a 2.4% growth signal for the fourth quarter of 2024, for which official data currently estimates a 2.3% GDP gain," Chief Business Economist at S&P Global Chris Williamson said.
