🇺🇸 The September ISM Services PMI came in at 54.9, below expectations and down 0.5 points from the previous reading of 55.4, but 4.9 points above the expansion-contraction threshold. The index remained in expansion territory for five consecutive months, but growth slowed this month compared with August. Looking at the past four months, the index fluctuated slightly from 54.5 in May to 54.0 in June and 54.1 in July, jumped to 55.4 in August, then fell back to 54.9 in September, showing an overall range-bound rather than one-way trend. This month's reading was 0.8 points below market expectations, indicating that the services sector's expansion momentum is slightly weaker than expected but remains well above the threshold. This suggests that the overall U.S. services sector continues to grow and shows no signs of contraction.
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