Preliminary figures showed that activity in the U.S. services sector unexpectedly fell earlier this month, dampening optimism over the state of the stateside economy.
Market research group Markit said that its flash services purchasing managers’ index fell to 53.4 in December, from the prior month’s reading of 54.6.
Analysts were looking for the reading to increase to 55.2. On the index, a reading above 50.0 indicates expansion, below indicates contraction.
Services make up about 80% of the U.S. economy, making the data key for interpreting growth.
