ADP Jobs Miss Forecast as Global PMI Signals Mixed Trends

ADP Nonfarm Employment Change Underwhelms, Falling Short of Expectations

The latest data from the ADP National Employment Report, a key indicator of the monthly change in non-farm, private employment, has been released, revealing an underwhelming figure. The actual numberof jobs addedstood at 22K, falling significantly short of the forecasted 46K.

This latest figure not only failed to meet the forecasted number but also trailed behind the previous month’s 37K. The report, which is based on the payroll data of approximately 400,000 U.S. business clients, is regarded as a good predictor of the government’s non-farm payroll report.

Eurozone Inflation Falls Below 2% Target

Eurozone inflation dropped below the 2 percent target in January on falling energy prices and a stronger euro, official data showed on Wednesday. The harmonized index of consumer prices rose 1.7 percent on a yearly basis in January, as expected, following December’s 2.0 percent increase, flash data from Eurostat revealed. Excluding volatile prices of energy, food, alcohol and tobacco, core inflation slowed marginally to 2.2 percent from 2.3 percent a month ago.

U.S. Services Index Comes In Unchanged In January

A report released by the Institute for Supply Management on Wednesday showed its reading on U.S. service sector activity came in unchanged in the month of January. The ISM said its services PMI came in at 53.8 in January, unchanged from a revised reading in December. A reading above 50 indicates growth in the sector. Economists had expected the services PMI to edge down to 53.5 from the 54.4 originally reported for the previous month.

Canada’s Services PMI Shows Sector Downturn Gathering Pace in January

The downturn in Canada’s services economy deepened in January as trade uncertainty contributed to declines in activity and new business, S&P Global’s Canada services PMI data showed on Wednesday. The headline Business Activity Index fell to 45.8 last month from 46.5 in December, marking a third straight monthly decline in service sector output. A reading below 50 shows deterioration in activity.

Eurozone Private Sector Growth Weakest In 4 Months

The euro area private sector logged its slowest growth in January due to the weakening of growth in services activity, final data from S&P Global showed on Wednesday. The final composite output index posted 51.3 in January, the lowest score since last September. The score remained below the initial estimate and the December’s level of 51.5.

Italy Budget Watchdog UPB Raises 2026 GDP Growth to 0.7%, Lowers 2027

Italy’s economy is estimated to grow by 0.7% both this year and next, the parliamentary budget watchdog UPB said on Wednesday, upgrading its 2026 estimate and slightly lowering next year’s outlook. In October, UPB had estimated growth of 0.4% and 0.8% for 2026 and 2027, respectively. The budget watchdog has confirmed its 2025 GDP growth estimate of 0.5%.

Source: HSL Prime Daily, 05 Feb 2026

Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.  

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.  

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations