US ISM services dropped sharply to 62.0, much worse than expectation

US ISM Services dropped sharply from 69.1 to 62.0 in December, much worse than expectation of 67.2. Looking at some details, business activity/production dropped from 74.6 to 67.7. New orders dropped from 69.7 to 61.5. employment dropped from 56.5 to 54.9. Supplier deliveries dropped from 75.7 to 63.9. Prices rose slightly from 82.3 to 82.5. […]

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