US Services Growth Slows In January As Tariff Concerns Mount

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US Services Growth Slows In January As Tariff Concerns Mount - Benzinga

Quick Summary:

The U.S.services sector continued to grow in January 2025, though at a slower pace than expected, highlighting uncertainty as businesses brace for potential tariff impacts.

Industry respondents echoed these worries, with contacts in professional, scientific and technical Services indicating that the threat of tariffs is leading to higher price pressures.

"Many panelists also mentioned preparations or concerns related to potential U.S.government tariff actions," said Steve Miller, chair of ISM's survey committee.