US ISM service PMI drops to 49.4 in April compared to expected 52.0

• US ISM Services PMI fell into contraction territory below 50 in April.
• The US dollar index remains in negative territory, below 105.00.

ISM services reduce US service sector activity in April PMI Edge dropped from 51.4 to 49.4. March. This figure was lower than the market expectation of 52.0.

Other details in the report showed that the price paid index, a component of inflation, rose from 53.4 to 59.2, while the employment index fell from 48.5 to 45.9.

Assessing the survey results, Anthony Nieves, chairman of the Supply Management Services Association, said: “April’s decline in the composite index reflects a decline in business activity, slower growth in new orders, faster supplier deliveries and continued employment growth.” This is the result of significant downsizing.” The Management Investigation Committee continued:

“Survey respondents indicated a general slowdown in the overall economy, although rates vary by company and industry.Employment issues are primarily due to difficulty filling positions and managing labor costs. The majority of respondents indicated that inflation and geopolitical issues remain a concern. ”

Business market reaction

of USD The index remained under bearish pressure following this report, ending the day down 0.4% to 104.90.

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