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US: Markit Services PMI edges down to 54.4 in December vs 53.4 expected

"The seasonally adjusted final IHS Markit U.S. Services Business Activity Index registered 54.4 in December, down from 54.7 in November, but up from the earlier reported flash figure of 53.6," the IHS Markit announced on Friday.

Key quotes

  • The final quarterly average of 2018 matched that seen in the third quarter at 54.7.
  • Service sector firms noted a fall in foreign client demand, with the New Export Business Index signalling the first monthly contraction in new business from abroad since August.
  • In line with a weaker rise in new business, service providers registered a lower degree of optimism towards future business activity in December. 
  • Despite a contraction in the level of outstanding business, service sector firms noted a solid rise in employment.

United States Markit Services PMI above forecasts (53.4) in December: Actual (54.4)

United States Markit Services PMI above forecasts (53.4) in December: Actual (54.4)
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