The S&P Global US Services PMI rose to 54.3 in March 2025, a three-month high, from 51 in February, surpassing market expectations of 50.8, preliminary data showed. Service sector output rebounded strongly after hitting a 15-month low in February, driven by improved business inflows, strengthening customer demand, and better weather conditions.
However, exports remained a weak spot, declining for the third straight month. Employment edged up in April, reversing February's small decline, though job growth remained sluggish as firms hesitated to hire amid demand uncertainty. Input costs surged to an 18-month high, while selling prices saw a modest uptick, as businesses kept prices competitive in a weak demand environment.
Meanwhile, service sector confidence declined for the third consecutive month, hitting its second-lowest level since October 2022. Businesses cited concerns over the impact of federal spending cuts, tariffs, and broader policy changes on demand and financial markets.
Source: Trading Economics
Federal Reserve Governor Christopher Waller said concerns about private-sector hiring have fueled his call for the central bank to cut interest rates this month. "The private sector is not performing ...
Federal Reserve Chairman Jerome Powell, in a letter on Thursday, rebutted criticism leveled at the central bank by a top White House official regarding the $2.5 billion renovation project. "We take se...
Federal Reserve Chair Jerome Powell on Thursday responded to a Trump administration official's demands for information about cost overruns for a renovation project at the central bank's Washington hea...
The United States Commerce Department is set to impose preliminary anti-dumping duties of 93.5% on graphite imported from China after concluding the materials, which are a key component for batteries,...
U.S. President Donald Trump's decision to ramp up arms shipments to Ukraine is a signal to Kyiv to abandon peace efforts, Russia said on Thursday, vowing it would not accept the "blackmail" of Washing...
Federal Reserve Governor Christopher Waller said concerns about private-sector hiring have fueled his call for the central bank to cut interest rates this month. "The private sector is not performing as well as everyone thought," Waller said Friday...
Federal Reserve Chairman Jerome Powell, in a letter on Thursday, rebutted criticism leveled at the central bank by a top White House official regarding the $2.5 billion renovation project. "We take seriously our responsibility to be good stewards...
The US dollar (USD) weakened on Friday (July 18th), retreating from a three-week high as momentum waned. However, the greenback remained supported by strong US economic data released this week, which has reduced the likelihood of an immediate...
U.S. consumer prices increased by the most in five months in June amid higher costs for some goods, suggesting tariffs were starting to have an...
European stocks erased early gains and closed mostly lower on Tuesday as markets continued to assess how potential tariffs from the US may hurt...
The U.S. central bank will probably need to leave interest rates where they are for a while longer to ensure inflation stays low in the face of...
President Donald Trump's renewed calls for Federal Reserve Chair Jerome Powell's resignation have prompted investors to protect portfolios against...