The US service sector continued to expand at the end of 2025, according to the latest PMI data from S&P Global. However, with new business inflows rising to the weakest degree in over a year-and-a-half, growth of activity faltered and was the lowest since last April. Confidence in the outlook also weakened, whilst employment volumes stagnated, failing to rise for the first time since last February. Tariffs and higher labor-related costs meanwhile drove typical operating expenses up to the greatest degree since last May. Firms passed on their higher costs by raising selling prices at a quicker pace. The headline S&P ... (full story)