U.S. Services Sector Expands Slowly Despite Headwinds

Note: This section contains information in English only.
Source: Dukascopy Bank SA
In November 2025, the U.S. services sector grew modestly, with the ISM Services PMI at 52.6, marking the ninth month of expansion. Growth continues despite challenges from tariffs, government shutdown.



Business activity and new orders remain positive, though demand shows some caution. Employment is still declining but at a slower pace, while prices are rising more slowly than before. Supplier deliveries are slower, and inventories are growing again. Industries like retail, arts, and accommodation are expanding, while construction, real estate, and transportation are shrinking. Overall, the sector is moving forward but facing headwinds from costs, hiring issues, and uncertainty.
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