US services PMI revised up in December

ANKARA

The US services Purchasing Managers Index (PMI) in December was revised up, according to report released by London-based global data provider IHS Markit on Wednesday.

The index, which measures the activity level of purchasing managers in the services sector, was revised up to a final reading of 57.6, from flash estimate of 57.5 announced last month.

While the market expectation for the final reading was 57.5, the November figure stood at 58.0.

A reading above 50 indicates expansion and below 50 shows contraction.

"Input shortages, transportation delays and upticks in labor costs drove the rate of private sector input price inflation to a fresh series high in December," the report said.