FX.co ★ US Services Activity Accelarates

The S&P Global US Services PMI increased to 55.2 in October 2025, up from 54.2 in the previous month, surpassing market predictions of 53.5. This indicates the second fastest growth in the sector for the year, only behind July's 55.7 figure. New orders saw their quickest increase of the year, reflecting a boost in domestic demand that countered subdued new business from international clients. This elevated demand prompted firms to accelerate job growth, despite employers noting a scarcity of suitable candidates to replace departing employees. On the pricing end, input cost inflation reached its highest level in three months, driven largely by rising wage expenses and tariffs on imported goods. Nonetheless, the increase in output charges remained moderate. However, business confidence regarding future output declined.