Reported 1 day ago
US services sector activity surged in December, with the nonmanufacturing purchasing managers index (PMI) rising to 54.1 from 52.1 in November, indicating strong demand and sustained economic growth. However, input costs also escalated, with a key price measure reaching its highest point in nearly two years, raising concerns about inflation. The Federal Reserve's previous interest rate cuts are predicted to be fewer than expected, reflecting the robustness of the economy and labor market.
Source: YAHOO