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ISM Non-Manufacturing Index for February reveals slowdown in activity, acceleration in prices
The ISM Non-Manufacturing Index fell to 55.3% in February (Briefing.com consensus 58.6%) from 58.7% in January. The dividing line between expansion and contraction is 50.0%. The February reading marks the ninth straight month of growth for the services sector, but it is the slowest pace since May 2020.

The key takeaway from the report for a market focusing increased attention on inflation trends, as economic activity picks up, is the upward move in the Prices Index to 71.8% from 64.2% in January. This elevated reading follows on the heels of Monday's ISM Manufacturing Index, which showed the Prices Index at its highest level (86.0%) since May 2008.

The New Orders Index dropped to 51.9% from 61.8%.
The Production Index slipped to 55.5% from 59.9%.
The Employment Index decreased to 52.7% from 55.2%.
The Backlog of Orders Index rose to 55.2% from 50.9%.