Post by Augustine Chiagozie (@pabloexchange)

🇺🇸 US services PMI hits highest level since 2022

US ISM Services PMI came in at 56.1, well above the 53.5 forecast and the highest reading since 2022.

At the same time, the Prices Paid index dropped to 63, the lowest level in 11 months.

ISM PMI is based on surveys of purchasing managers. Readings above 50 signal expansion in economic activity.

Strong activity with cooling price pressure is the combination markets like to see.

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