Two measures of activity in the US services sector showed slower growth in December, pointing to an economy that continues to expand at a modest pace, while factory orders rose in November.
The pace of growth in the US services sector slowed for a second straight month in December with business activity expanding at a lower rate and new orders contracting, according to the Institute for Supply Management.
ISM's index fell to 53 last month from 53.9 in November, dropping to its lowest reading since June 2013 and under expectations for a read of 54.5.
Separately, financial data firm Markit said its services sector Purchasing Managers Index eased slightly from the prior month, slipping by 0.2 point to 55.7 in the month.
A separate report from the Commerce Department showed new orders for factory goods rebounded in November, rising 1.8 per cent, as had been forecast.
