Urgent - The final reading of the PMI Index for the services sector in the United States has been released.

Data released on Wednesday by S&P Global's Bureau of Statistics showed that the final reading of the Purchasing Managers' Index (PMI) for the services sector in the United States was better than initial estimates. The final reading for the services PMI recorded 52.9 points in January, which is an improvement over initial estimates that indicated a reading of 52.8 points. The previous reading of the index was 56.8 points in December.

It is worth noting that this index measures the level of activity based on surveys conducted in the services sector. It is a leading indicator to gauge economic health, as businesses are influenced by market conditions, and purchasing managers often have a clear perspective related to the economic outlook of their institutions.

If the index records a reading above 50.0, it indicates expansion in the industry, while a reading below 50.0 suggests contraction in the industry. The first data for this index was released in December 2013.

In recent times, the U.S. economy has been significantly affected by the repercussions of accelerated monetary tightening and a substantial increase in U.S. interest rates, which has severely impacted both the manufacturing and services sectors. Therefore, markets are closely monitoring the release of such data to assess the extent of recovery in the U.S. economy, which has a strong impact on the movements of the U.S. dollar against other currencies.