Following yesterday’ dismal data from Markit/ISM on the manufacturing side of the US economy, analysts expected this morning’s services sector surveys to show further deterioration after last month’s tumble. Markit US Services fell from 57.6 in December to 51.2 in January – the lowest since Aug 2020 . However, the final print was marginally above the flash print of 50.9.
PMI Services fell from 62.3 in December to 59.9 in January – the lowest since Feb 2921. However this was above the expected 59.5 print.
All of which syncs with weak economic surprise data… Source: Bloomberg It […]
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