FX.co ★ U.S. Services Sector Growth Slows in April, S&P Global PMI Data Shows

The growth of the U.S. services sector decelerated in April, as indicated by the latest S&P Global Services PMI data released on April 23, 2025. The services PMI fell to 51.4 from March’s reading of 54.4, suggesting a notable slowdown in expansion.

The PMI, or Purchasing Managers' Index, is a critical indicator of the economic health of the services sector. A reading above 50 signifies expansion, while below 50 indicates contraction. With April's reading at 51.4, the sector remains in expansion territory, albeit at a more modest pace compared to the previous month.

Economists and industry experts will be watching closely to see if this slowdown signals a temporary easing or the onset of a more prolonged phase of subdued growth. Factors contributing to this slowdown could include changes in consumer spending patterns, supply chain issues, or broader economic conditions. Businesses across the U.S. will be keenly aware of these trends as they strategize to maintain growth momentum in the coming months.