Price pressures rise in US services sector

The index was down from 55.4 in the previous month, indicating that growth in the services sector continued despite losing some momentum.

Among the subcomponents, the employment index rose from 47.8 to 50.1, returning to expansion territory, while the prices paid index increased from 72.6 to 74, signaling stronger cost pressures. New orders declined from 60.9 to 59.8 but remained at a strong level.