Markit US Services PMI Drops; Job Creation Near 2-Year Lows

Tyler Durden's picture

Markit's US Services PMI dropped and missed expectations input and output prices soared, employment tumbled, and business activity slowed. Staffing levels increaed at the slowest pace since June 2012 and the latest expansion of new business was only slightly faster than the 18-month low seen in March, and weaker than recorded at any time in 2013. So much for that post-weather pent-up-demand surge...

Relatively subdued new business growth and weaker rises in output contributed to a slowdown in job creation in April. The latest expansion of service sector payroll numbers was only marginal and the weakest since June 2012 (it was also the joint-slowest rise in staffing levels for almost four years).

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Aknownymouse's picture

So higher inflation and lower employment. Nice work mr. Ben Yellen

Zirpedge's picture

A lack of jobs only hurts the laborers on this plantation. No, I am reading this as bullish for the top earners, we are nearing the turn and a great buying opportunity.

Caracalla's picture

Check out the dip the market has given us this morning.  I wonder how many readers will take advantage and BTFD?  I know I am; I had my orders in at 9:45. 

Kina's picture

Very clear the US economy is a basket case. Even the fake Govt stats can no longer hide whats under the rock.


Given that all the bad data we have been getting lately has had the best possible manipulation, invention and face given to still looks must bloody awful in reality.


What to do?

Put the USD at risk by some geopolitical idiocy?

Start a war because Keynesians say that breaking lots of windows will help?


Take everyones money and assets...because its patriotic and needed to fund a new security and war effort.....


jay28elle's picture

But, but... all the consumers are really confident.  What gives?