US: ISM Services PMI falls to 62.0 in December vs. 66.9 expected

• The headline ISM Services index fell to 62.0 in December from 69.1 in November.
• The New Orders subindex fell to its lowest since November.   

The Institute of Supply Management’s headline Services PMI index fell to 62.0 in December versus forecasts for a fall to 66.9 from 69.1 in November.

Subindices:

• Business Activity fell to 67.6 from 74.6. 
• Prices Paid rose to 82.5 from 82.3. 
• New Orders fell to 61.5 from 69.7, the lowest such reading since February 2021. 
• Employment fell to 54.9 from 56.5. 

Market Reaction

The DXY does not seem to have reacted much to the latest US ISM survey, even though it was a tad weaker than forecast.