Economic activity in US services sector slows after 18 months

ANKARA

Economic activity in the US services sector in December slowed down after 18 straight monthly increases, according to data released Thursday.

The ISM non-manufacturing purchasing managers' index (PMI), also known as the ISM Services PMI, fell 7.1 percentage points from the previous month to 62, the survey by the Institute for Supply Management (ISM) showed.

The market expectation for the index, which indicates the overall economic condition of the non-manufacturing sector, was a reading of 66.9.

The index stood at an all-time high level of 69.1 in November after rising 18 months in a row.