U.S. economic activity showed signs of cooling in December, with the S&P Global Composite PMI sliding to 53.0 from 54.2 the previous month. The breakdown tells an interesting story: Manufacturing contracted to 51.8 (down from 52.2), while Services softened to 52.9 versus 54.1. What caught attention was the sustained price pressure—average selling prices climbed at one of the most aggressive paces since mid-2022, signaling persistent inflation concerns despite the slowdown. This divergence matters: We're looking at an economy still grappling with cost pressures even as growth momentum fades. For traders watching market correlations, this data reflects the kind of economic headwinds that typically reshape asset allocation strategies across traditional and digital markets.