FX.co ★ US Composite PMI Revised Lower

The S&P Global US Composite PMI for December registered at 52.7, marking the lowest level in eight months, down from the preliminary reading of 53 and a drop from 54.2 in November. Both manufacturing and service sectors experienced slower growth, with the PMI for manufacturing at 51.8 and services at 52.5. New order volumes only saw a marginal increase, representing the slowest growth in 20 months, while employment saw just a slight uptick. Confidence for the future dipped compared to November. Additionally, price pressures escalated, with cost inflation reaching its highest point since May of the previous year, prompting a substantial increase in selling prices.