FX.co ★ U.S. Services Momentum Eases Slightly as S&P Global PMI Slips in February

The U.S. services sector showed a modest loss of momentum in February, with the S&P Global Services PMI edging down to 52.3 from 52.7 in January 2026. While the latest reading, updated on 20 February 2026, still signals expansion in the sector, it points to a slightly softer pace of growth compared with the start of the year.

The February figure keeps the index comfortably above the 50-point threshold that separates expansion from contraction, indicating that services activity in the United States continues to grow, albeit at a slower rate. Investors and policymakers are likely to watch upcoming releases closely to determine whether this easing is a temporary pause or the start of a more sustained cooling in the services-driven side of the economy.