US Services Growth Slows to 54.9 as ISM Price Gauge Hits 4-Year High
Updated
Updated · Bloomberg · Oct 5
US Services Growth Slows to 54.9 as ISM Price Gauge Hits 4-Year High
3 articles · Updated · Bloomberg · Oct 5
Summary
ISM’s services index fell 0.5 point to 54.9 in September, showing the US service sector kept expanding but at a slower pace.
Cost pressures accelerated the most in more than four years, with ISM’s price gauge reaching a four-year high and signaling intensifying inflation pressure in services.
The reading remained above 50, the threshold that separates expansion from contraction, indicating activity is still growing despite the slowdown.
The report points to a services economy that is losing some momentum even as price pressures stay elevated, a mix likely to keep inflation concerns in focus.