The S&P Global Services PMI Final for the USA registered at 54.2, slightly down from the previous reading of 54.5. This marks a decrease of 0.3 points, indicating a marginal slowdown in the growth of the services sector.
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The actual figure of 54.2 surpassed the analyst estimate of 53.9, suggesting stronger-than-expected activity in the services sector. This positive surprise could bolster sentiment in service-oriented stocks, particularly in industries like hospitality and retail, which are sensitive to consumer demand. The market impact is likely to be short-term, as investors adjust their expectations based on the latest data.