US Services PMI Sees Fastest Growth Since 2021
The US services index recorded its fourth consecutive monthly gain, driven by the fastest increase in new orders in four and a half years. Business activity surged, and hiring accelerated to its quickest pace since June 2022. Confidence reached a one-year high.
The services index recorded a fourth straight monthly increase as business activity accelerated, helped by the fastest rise in new orders in four-and-a-half years. Firms also increased hiring at the quickest pace since June 2022. Confidence reached a one-year high, while input-cost inflation re-accelerated.