États-Unis PMI non industrielles

The ISM Services PMI for the US increased for a third consecutive month to 54.4 in December 2025 from 52.6 in November, well above forecasts of 52.3. The reading pointed to the strongest growth in the services sector since October 2024, with all subindexes in expansion territory for the first time since February. Companies frequently mentioned impacts related to the holiday season and activity increases related to end-of-year activities or preparation for 2026. Business activity/production (56 vs 54.5), new orders (57.9 vs 52.9) and inventories (54.2 vs 53.4) rose at a faster pace while a rebound was seen in employment (52 vs 48.9), new export orders (54.2 vs 48.7) and imports (50.3 vs 48.9). Also, price pressures eased slightly (64.3 vs 65.4) and the supplier deliveries index indicated slower performance (51.8 vs 54.1).