by Calculated Risk on 1/07/2025 12:28:00 PM

(Posted with permission). The ISM® Services index was at 54.1%, up from 52.1% last month. The employment index decreased to 51.4%, from 51.5%. Note: Above 50 indicates expansion, below 50 in contraction.

From the Institute for Supply Management: Services PMI® at 54.1% December 2024 Services ISM® Report On Business®

Economic activity in the services sector expanded for the sixth consecutive month in December, say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®. The Services PMI® registered 54.1 percent, indicating expansion for the 52nd time in 55 months since recovery from the coronavirus pandemic-induced recession began in June 2020.

The report was issued today by Steve Miller, CPSM, CSCP, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee: “In December, the Services PMI® registered 54.1 percent, 2 percentage points higher than November’s figure of 52.1 percent. The reading in December marked the 10th time the composite index has been in expansion territory this year. The Business Activity Index registered 58.2 percent in December, 4.5 percentage points higher than the 53.7 percent recorded in November, indicating a sixth consecutive month of expansion and finishing the year with its third-highest reading for 2024. The New Orders Index recorded a reading of 54.2 percent in December, 0.5 percentage point higher than November’s figure of 53.7 percent. The Employment Index remained in expansion territory for the fifth time in six months; the reading of 51.4 percent is a 0.1-percentage point decrease compared to the 51.5 percent recorded in November.
emphasis added

This was above consensus expectations.