The Services PMI Dilemma: Growth Continues, But Jobs and Prices Soften—A Mixed Signal for the USD

Economic activity in the U.S. services sector, the largest component of the national economy, extended its growth streak in November 2025. According to the latest ISM Services PMI Report, the headline index rose slightly to 52.6%, up from 52.4% in October, marking the ninth time the index has been in expansion territory this year.