actual 52.8, previous 54
The ISM Services PMI (Purchasing Managers' Index) for January is a key economic indicator that measures the performance of the services sector in the United States. A reading above 50 indicates expansion in the sector, while a reading below 50 indicates contraction.
In this case, the actual ISM Services PMI for January came in at 52.8, which is lower than both the previous month's reading of 54 and the market consensus estimate of 54.3. This suggests a slight slowdown in the growth of the services sector compared to the previous month.
Given the high impact of this event, investors and analysts are likely to closely monitor this data point as it provides insights into the overall health of the US economy, particularly the services sector which is a significant driver of economic activity. The lower-than-expected reading may lead to some market volatility as market participants adjust their expectations based on this new data.