USA: US Services Economy ‘Bounce’ Dies – PMI Tumbles To 5-Month Lows – @AceFinanceNews

#AceFinanceNews – July.26: Despite an excited bounce in US Manufacturing PMI’s preliminary print (and ISM Services last month), Markit reports a disappointing drop in US Services to a 5-month low. New business slowed but that did not deter hope as business confidence rebounded (albeit from record lows). However, as Markit notes, The U.S. service sector remained stuck in a low gear at the start of the third quarter of 2016…”

Commenting on the flash PMI data, Andrew Harker, Senior Economist at Markit said:

The U.S. service sector remained stuck in a low gear at the start of the third quarter of 2016, with growth of activity remaining subdued amid a slower rise in new business. This is particularly disappointing given the decent numbers posted by the manufacturing sector last week.

“A bit more encouraging was the rebound in business confidence following June’s survey low, suggesting that a return to stronger growth will be possible once the current soft patch comes to an end. Whether this will be before the presidential election or not remains to be seen, however.”

The composite (Services and Manufacturing) PMI rose modestly but suggests very marginal growth in Q3…

Charts: Bloomberg

Original Article:

Editors Notes:

I would remind you that this blog is produced free for the public good and you are welcome to republish or re-use this article or any other material freely anywhere without requesting further permission.

News & Views welcome always published as long as NO bad language or is not related to subject matter.

To keep online information secure, experts recommend keeping your social media accounts private, changing your passwords often, and never answering unsolicited emails or phone calls asking for your personal information. Need help and guidance visit and leave a comment

Ace News Services Site Links Listed Here:

AceTweet This News