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Markit Services PMI Slides To 4-Month Lows As ISM Services Drops From 2005 Highs
ISM Services printed modestly better than expected but dropped down from last month's 2005 highs. Printing at 58.6 vs 58.5 expectations, the seasonally-adjusted ISM data shows business activity dropping and new orders at 4-mointh lows. Markit Services PMI fell for the 3rd month in a row to its lowest since May but Markit's chief economist sees "good reason to believe growth will pick up once again," from somewhere, despite maunfacturing PMI also fading. The divergence between Markit's and the Government's surveys of the Services industry in America remain large.
ISM Services fell back from its exuberant 2005 highs of last month...
which fits with the weakness in manufacturing PMI this month...
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Markit Services PMI dropped 3 months in a row to lowest since May...
Commenting on the PMI data, Chris Williamson, Chief Economist at Markit said:
"The PMI surveys signalled an easing in the pace of economic growth in September, but there's good reason to believe that growth will be sustained at a robust pace in coming months and could even pick up again."
"A slowing in the pace of service sector growth in September matched a similar easing in the pace of manufacturing output growth seen during the month, suggesting the overall pace of economic expansion dipped to the weakest since May. But the surveys nevertheless still point to the economy growing at an annualized rate of at least 3% in the 3rd quarter."
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The two-faces of the Non-Manufacturing industry in America...
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It's down but we hope it goes up... brilliant
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END the MOTHERFUCKING CRIMINAL enterprise named "The Federal Reserve."
Everyone wave bye bye to Putin
http://finance.yahoo.com/q?s=usdrub=X
Greenz shoots sho be tastee, mmmm-hhhhhmmmmm!!!!
"Aaand in other news, Gold takes a year to make a double bottom....
This ain't the bottom.
You know this because.....?
He is embracing the madness. Ironically, for now, doing such seems to be the only sane thing to do.
Triple to 6/13, but counterparty risk in paper gold could make selling at the lows make sense. Possession counts.
per BLS construction employment
july +22K
august +20K
september +16K
yet wednesday census bureau came out with construction spending (august) big miss ... -0.8% vs +0.5% expected
big downward revisions to june and july, as well
So we have the biggest energy boom in world history going on inside the USA...but now prices are collapsing.
How is that good for jobs growth?
Sounds to me like we should be long the failure of the State.
With the biggest negative cash flow, too.
still think much of the "beat" on NFP came from economists @ BLS missing the boat on retailers moving the holiday season FORWARD
And this 'market' is now up over 1%?!
DavidC
Big Whoop ! But, Gold doesn't pay any dividends ?
Rage is the antidote to fear. Speaking from experience. The ability to control your rage is a useful skill.