US Services Activity Grows More than Expected: S&P

2025-06-23 13:52 By Andre Joaquim 1 min. read

The S&P Global US Services PMI inched down to 53.1 in June of 2025 from 53.7 in the previous month, slightly ahead of market expectations of 52.9 to sustain the strong growth momentum among private-sector services providers, according to a preliminary estimate.

New business deals continued to increase, supported by a fresh rise in domestic demand that offset another period of contraction for export orders, pressured by concerns of tariffs by the government.

The backdrop of robust demand drove companies to accumulated uncompleted work.

Consequently, firms continued to take in new staff.

On the price front, firms reported steep hikes in the costs of financing, wages, and fuel, driving executives to increase selling charges.

Still, future confidence fell for service providers on the uncertain outlook on tariffs.



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