FX.co ★ US Services Growth Highest Since 2024: ISM

The ISM Services PMI for the United States ascended for the third consecutive month, reaching 54.4 in December 2025, up from 52.6 in November, surpassing expectations of 52.3. This figure signals the most robust expansion in the services sector since October 2024, with all subindexes entering expansionary territory for the first time since February. Businesses frequently cited the holiday season's influence and increased activities related to year-end operations and preparations for 2026. Notably, business activity and production elevated to 56 from 54.5, while new orders climbed to 57.9 from 52.9, and inventories grew to 54.2 from 53.4. Employment saw a rebound, rising to 52 from 48.9, as did new export orders, increasing to 54.2 from 48.7, and imports, moving to 50.3 from 48.9. Price pressures have somewhat eased, ticking down to 64.3 from 65.4, and the supplier deliveries index indicated a slower performance at 51.8 compared to 54.1.