The ISM Services PMI decreased from 56.5 in November to 49.6 in December, indicating a decline in economic activity in the US service sector.
In stark contrast to the market forecast of 55, this reading was substantially worse.
Additional information from the publication revealed that, contrary to the market forecast of 71.5, the Employment Index decreased from 51.5 to 49.8 and the Prices Paid Index decreased from 70 to 67.6.
