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US Service PMI Surges Near Record High As Margin Pressures Appear
Markit's US Services PMI soared to 58.4 in April - blowing away the expectations of 55 - just shy of the record high 58.5 seen in March 2012 and early 2010. All sub-indices rose providing just enough comfirmation that all is well in the world.. but one has to ask whether the fastest rise in new work orders in 3 years is sustainable or simply a post-weather bounce. Input prices are up once again though even as output charges dropped - so much for the dream of ever-expanding margins. Is good news bad?
We have seen this level of exuberant activity before... it has not led to follow through...
The sub-index breakdown...
As Markit notes,
Meanwhile, input price inflation picked up for the second month running and was the fastest since January. Higher cost burdens in turn led to another robust increase in prices charged by service providers during May. That said, the rate of output charge inflation eased since April
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This isn't the inflation you were looking for, move along, move along...
MOAR TAPER!
http://www.marketwatch.com/investing/bond/10_year
Indeed, show me the balance sheet, show me the "taper"...
is the US including hookers and blow in this index yet? i know ive been doing my part to bolster the "services" data.
Unbelievable how the stupid really believe in these "indexes". Just make up whatever shit you want, parade it as a headline and BOOM!! market making ensues!!
Another pretty volatile indicator. And at its probable high. Perhaps handy for very short term decicions.
MOTHERFUCKING, COCKSUCKING BULLISH.....GOD DAMMIT.....
TO THE FUCKING MOON!
HP just laid off 50,000. The ripple effect of this alone is ugly.
Retail is in the tank. Consumers are tapped.
Car companies ship from manufacturing to the farmer's field - if you want a new car, you have to drive to Nebraska to pick it up.
But I'm sure they didn't make these numbers up.
No worries!
China will just hire a buncha service workers from BCG and McKinsey...oh wait....not they won't. they just fired them.
What's the mandarin for "hookers and blow"?
Is there even a market for such things in China? Seriously, very disciplined people, probably no market for such things, nevermind.
HP just laid off 50,000
BULLISH!! more profit for HP!!
What inflation? Gold is falling.. see... hold on a sec.. <pound> <pound>... there... falling.
LOL! Yeah when my gold "falls" it does indeed make a "thud"...
That graph goes every which way. I don't believe it.
Good to see that Tyler has come around and started blaming the weather for things like everyone else.
"Work orders" are not payments.
If that commercial paper market seizes up again you could get a wave of bankruptcies...."businesses small and big alike."
Print more!! Of course, then the input costs for any business making something real or providing essential services like food and energy jumps up again...
Rock and a hard place indeed. Oh well, ammo keeps getting cheaper, so there's that...
Some of the best in fiction comes out of the government these days.
Fuck it, I'm blaming the low quality of this comment on the weather.
maybe its not different this time but rather the timing is offset. The market will continue to rise until it goes down. The google dollar question is when that will happen. With the FED and other central banks printing there is no telling how long this charade will continue.
If you look at the chart closely, it spikes around April of every year, and crashes around October... What is this really telling us?