US service branch rebounded in January

U.S. services sector activity recovered strongly in January. The increase in new orders was effective in this rise.

In the US, the ISM services index rose to 55.2 in January. The fact that the index is over 50 points to growth in the section.

The index fell to 49.2 in December, the first time since May 2020, into the contraction zone.

The new orders index rose from 45.2 to 60.4 and the employment index rose from 49.4 to 50 in this period.

According to the data released in the country on Wednesday, the ISM manufacturing index fell to the lowest level since 2020 and the contraction continued in the third month.

The data released today showed that the economy started 2023 stronger than expected.

On the other hand, S&P Global January services PMI was revised from 46.6 to 46.8.