FX.co ★ US S&P Services PMI Revised Lower

The S&P Global US Services PMI was revised downward to 50.8 for April 2025, adjusted from its initial estimate of 51.4, indicating the slowest rate of expansion in 17 months. The growth in both business activity and new orders showed signs of weakening due to increasing economic uncertainties, particularly concerning federal trade policies. This uncertainty also contributed to diminished business confidence, reaching its lowest point in two and a half years. The pressures from tariffs caused a rise in supplier charges and operating costs, leading firms to increase selling prices at their fastest rate since January. Employment growth remained modest, while there was a significant decline in foreign demand—the most pronounced since November 2022—illustrating the escalating challenges facing the service sector.