US Services Sector Unexpectedly Contracts: S&P Global
The S&P Global US Services PMI fell to 49.7 in February of 2025 from 52.9 in the previous month, sharply below expectations that it would have risen to 53 to indicate the first contraction in the services sector activity in over two years.
The swing took place amid a near stagnation in the level of new orders, with firms citing worsening new orders growth to political uncertainty, notably due to spending cuts and pro-inflationary policies by the new Presidential administration.
Source: Trading Economics