79
The US services sector expanded more than expected in February, supported by strong demand and rising hiring.
The ISM services index remained substantially unchanged at 55.1 points (from 55.2 in January), beating the consensus of analysts indicated by Bloomberg (54.5 points) and remaining well above the 50 point threshold which separates expansion and contraction.
The indicator confirms the trend observed in the first month of the year, after the drop in December, and adds to the series of signs of solidity of the US economy. These signals are not particularly welcomed by the Federal Reserve, as they risk accentuating upward pressure on wages and prices, thwarting the efforts of monetary policy to bring inflation back towards the 2% target.