Usa: sharp decline in December for the PMI services and composite indices (44.7 and 45 points)

US service providers signaled a sharp drop in business activity in the final month of 2022, according to the latest PMI data. The final seasonally adjusted S&P Global PMI Services index recorded a value of 44.7 points in December, down from 46.2 in November, but slightly up from the previous “flash” estimate of 44.4 points.

Overall, the PMI Composite index stood at 45.0 points in December, down from 46.4 in November. The latest data point to a steep decline in private sector business activity, with output contracting faster in the manufacturing and services sectors.