Fiper | Flash Services PMI

The Institutional Support Management (ISM) Non-Manufacturing Index determines the level of activity of purchasing managers in the services sector, and a reading above 50 indicates expansion. To get a reading of this indicator, purchasing managers determine the level of certain elements in the sector, including employment, production, new orders, resource allocation, and inventories.
The S&P Global Services PMI for US services was revised slightly higher to 46.8 in January of 2023 from an initial 46.6, but continued to mark the sixth consecutive month of decline in services sector activity. Despite the softening from December (44.7), the decline in production resulted from more weak domestic and external demand conditions, as new business and new export orders fell. Companies continued to increase their workforce numbers despite another drop in backlogs, but the pace of employment growth slowed further amid reports of cost-cutting efforts. However, confidence in the business has been strengthened and enhanced through increased marketing spending and investment in cost efficiency. At the same time, cost inflation rose for the first time in eight months. The sharp rise in input prices was not reflected in a faster increase in output charges, as selling prices rose at the slowest pace since October 2020.

Outlook for today's statement and how it will affect the currency

The expected level for today's statement is 47.3
In the event that the current statement is issued at a higher than expected level, it will positively affect the currency, and vice versa