US Service Sector Slows in January; Input Prices Remain Elevated: ISM Survey

US Service Sector Slows in January; Input Prices Remain Elevated: ISM Survey
A barista makes coffee for a customer in Houston, Texas, on March 10, 2021. Callaghan O'Hare/Reuters
Reuters
Updated:

WASHINGTON—A measure of U.S. services industry activity dropped to an 11-month low in January as a resurgence in COVID-19 infections hurt demand at high contact businesses and kept workers at home.

The Institute for Supply Management said on Thursday its non-manufacturing activity index fell to 59.9 last month, the lowest reading since February 2021, from 62.3 in December.