États-Unis PMI non industrielles

The ISM Services PMI for the US declined to 52.8 in January 2025 from a downwardly revised 54 in December 2024, and well below forecasts of 54.3. The reading pointed to a slower expansion in the services sector, due to smaller increases in business activity (54.5 vs 58) and new orders (51.3 vs 54.4). Also, inventories were in contraction territory for the third month in a row (47.5 vs 49.4). On the other hand, employment (52.3 vs 51.3) and new export orders (52 vs 50.1) increased faster and price pressures eased (60.4 vs 64.4). "Poor weather conditions were highlighted by many respondents as impacting business levels and production. Like last month, many panelists also mentioned preparations or concerns related to potential U.S. government tariff actions; however, there was little mention of current business impacts as a result”, Steve Miller, Chair of the ISM Services Business Survey Committee said.