Thursday, February 25, 2016

Services Sector Falls Into Recession: Markit Services PMI Crashes Into Contraction...........

Services Sector Falls Into Recession: Markit Services PMI Crashes Into Contraction

Following this week's ongoing demise of the US manufacturing sector, tumbling to its weakest since October 2012, Markit US Services PMI collapsed into contraction at 49.8, massively below expectations of 53.5. This is the weakest level for the last pillar standing in the US recovery since the government shutdown in 2013, and as Markit even admits, "slumping business confidence and an increased downturn in order book backlogs suggest there's worse to come."

The last leg of the US recovery stool just broke...


No comments:

Post a Comment