US ISM services jumped to 55.2, corresponds to 1.8% annualized GDP growth

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US ISM services jumped to 55.2, corresponds to 1.8% annualized GDP growth

US ISM Services PMI rose from 49.6 to 55.2 in January, well above expectation of 50.4. Looking at some details, business activity/production rose from 53.5 to 60.4. New orders rose sharply from 45.2 to 60.4. Employment ticked up from 49.4 to 50.0. Prices dropped slightly from 68.1 to 67.8. ISM said: "Ten industries reported growth […]

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Source: US ISM services jumped to 55.2, corresponds to 1.8% annualized GDP growth