The ISM Services PMI increased from 51.2 in March to 51.9 in April of 2023, which was slightly higher than the 51.8 market estimates. As a result of a faster increase in new orders (56.1 vs. 52.2), a rebound in new export orders (60.9 vs. 43.7), and one of the fastest supplier delivery performances since December 2015 (48.6 vs. 45.8) as a result of ongoing improvements in capacity and supply logistics, the services sector has grown for four months in a row. On the other hand, employment growth also slowed (50.8 vs 51.3), while production increased at the slowest rate since May 2020 (52 vs 55.4). source: European Central Bank
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