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Markit Needs A Bigger Chart To Fit Its Record High Services PMI Euphoria
Markit's US Services PMI printed at 61.2 (massively beating the 58.0 expectations) and soaring to its highest since records began. In other words, it doesn't get any better than this. This, based on Markit's analysis, implied a Q2 GDP surge to +6% - we can only wait. There's one thing though... Business expectations (the line item that represents company's confidence in the future) plunged from 79.3 to 75.9 - not what Yellen needs... furthermore, margins continue to come under pressure as prices charged drop as input prices rise. One wonders how long before this miracle is revised due to a technical glitch?
and the underlying factors are not exactly supportive of this being sustainable...
“Second quarter GDP data are therefore likely to show a strong recovery after the 2.9% annualised decline seen in the first quarter. Growth in excess of 3.0% would not be a surprise. Importantly, this is not just a rebound from the weather-related disruptions to business seen earlier in the year. Companies are reporting strong demand for goods and services, linked to growing confidence among households and business customers, setting the scene for further robust economic growth as we move into the second half of the year. "
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need somethin to get stokks up...
Nothing like the threat of an IRS/SEC investigation to goose figures.
Oh great, just what we need more financial "products" of mass destruction. Let me be clear; "roll the motherfucking guillotines and start executing these useless paper-pushers and their political puppets, nothing changes otherwise.
We need and ISIS type video, instead we are rounding up bankers, politicians, and CEOs haha
Ha ha ha
How convenient after the previous atrocious fake number!
Prices charged, rise slower rate. Input prices, rise faster rate. That sums it up to me. Eventually businesses go boom!
... Markit's expectations are like crossing an elephant and a rhino ... elephino ... it's like them collectively saying 'hell if I know' ...
Inflation is starting to get hot.... Fed may get backed into a corner much sooner than 2015 and have to let rates leak higher.
When rates rise it's game over given the xxxxxxl debt load.
USD Real Consumer Spending 1.0% 2.5% 3.1% I also have some swampland in Nevada to sell ya.
MARKIT has their customers to please as well you know. They wouldn't want to disappoint them.
If there was an indicator out there that measured the corruptedness of economic "indicators", Markit would be at the very top.
skid-markit
Is there a chart for bullshit?