US services sector cools in September, price pressures building

The ISM Services PMI slipped to 54.9 in September, marking a slowdown in the US services sector that had previously expanded at a faster pace. The decline was reported alongside the official Services PMI release, confirming the sector’s cooling momentum. Bloomberg highlighted that the price‑sensitivity component of the index rose to its highest level in four years, indicating mounting inflationary pressure despite weaker growth.

Reuters echoed the same data, emphasizing the contrast between the slowing activity and rising price gauge. Kitco noted the broader market reaction, with gold prices easing as the services data came in. The cooling reading is tempered by the elevated price gauge, suggesting that higher costs may offset the slowdown.

A separate Trump comment about not rushing a trade deal with Canada appeared in the same news cycle, underscoring that political discourse was also part of the day's coverage, though it does not directly affect the services data.