The ISM Services PMI climbed to 54.1 in December 2024, up from 52.1 in November, exceeding the market expectation of 53.3.
This marks the 10th time this year the index has signaled expansion. The Business Activity Index jumped to 58.2%, a 4.5-point increase from November’s 53.7%, reflecting six straight months of growth and recording the third-highest reading of the year.
The New Orders Index edged up to 54.2%, a 0.5-point improvement over November’s 53.7%. Meanwhile, the Employment Index, though slightly lower at 51.4% compared to 51.5% in November, remained in expansion for the fifth time in six months.
Source: Institute for Supply Management
The dollar index steadied around 102 on Tuesday, near its highest since April 2025, as the euro weakened on French fiscal and political concerns and Spain's upcoming snap election, yet stabilized near 1.1220 after touching its lowest level since May 2025.
Detail
Weak US Jobs Ease Fed Hike Bets (5 – 9 October)Weak US labor market data shifted the monetary policy outlook after September nonfarm payrolls rose by only 29,000, well below the 90,000 forecast, while prior months were revised lower. Unemployment rose to 4.2%, and wage growth slowed to 3.0%, cutting the probability of an October Fed hike to around 20%. The Dollar Index fell below 102 after the report, but remained on course for a third consecutive weekly gain.
Detail Safe-Haven Demand Keeps Dollar Firm (10.05.2026)Safe-haven demand and elevated Treasury yields supported the dollar as Middle East tensions kept investors cautious at the start of the week.
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