December Services PMI Rises to 54.1, Marking Sixth Straight Growth Month

December services sector output remained in growth mode for the sixth consecutive month, according to the latest edition of the Services ISM Report on Business, released today by the Institute for Supply Management (ISM).

The December Services PMI, at 54.1 (a reading of 50 or higher signals growth) rose 2.0% over November’s 52.1 reading, growing at a faster rate for the sixth consecutive month and for the 52nd time in the last 55 months, going back to the initial recovery from the pandemic in June 2020.  

The December PMI was 1.6% above the 12-month averag…