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US ISM services PMI slips to 54.9 in September
Employment returned to expansion, rising to 50.1, while the Prices Paid index hit 74.0, its highest since July 2022.
Action Forex reports that the US ISM Services PMI eased from 55.4 to 54.9 in September, slightly below the 55.3 consensus but still indicating solid expansion as it remained above 50.
The slowdown reflected softer activity and demand, with the Business Activity Index falling from 61.7 to 56.5 and New Orders easing from 60.9 to 59.8, while internals firmed on labor and prices.
Employment rebounded from 47.8 to 50.1 after three months of contraction, and the Prices Paid index accelerated from 72.6 to 74.0, its highest reading since July 2022.
ISM said tariffs and fuel costs were the most frequently cited supply chain concerns, and external demand weakened with New Export Orders dropping from 56.3 to 46.9 and Imports slowing from 56.3 to 52.9.