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US Services Economy "Bounce" Is Dead, "Warning Lights Are Flashing Brighter"
After widespread weakness in global (yes and US) manufacturing PMIs, US Services PMI dipped in September (after 2 months of modest bounce back). The pace of expansion slowed to three-month lows with service sector confidnce close to its lowest in three years. This latest print indicates a slowdown in overall new business growth for the second month running, which brought the pace of expansion down to its weakest since January. Prices dropped for the 2nd month in a row and Markit warns that "various warning lights are now flashing brighter, meaning growth may continue to weaken in coming months."
Commenting on the flash PMI data, Chris Williamson, chief economist at Markit said:
“The survey data point to sustained steady expansion of the US economy at the end of the third quarter, but various warning lights are now flashing brighter, meaning growth may continue to weaken in coming months.
“Although the surveys suggest the economy expanded at a 2.2% annualised rate in the third quarter, growth slowed in September and could weaken further in coming months. Business optimism slumped to one of the lowest levels seen since the global financial crisis, inflows of new business rose at the weakest rate for eight months and job creation slipped to a six-month low. Growth is also becoming increasingly reliant on the services economy as manufacturers struggle against the strong dollar and weak demand in export markets.
“Average prices charged for goods and services are falling at the fastest rate seen since the survey began in late-2009, suggesting consumer price inflation will weaken in coming months.
“With growth slowing, warning lights flashing and charges falling at the fastest rate for at least six years, the survey data play into the hands of dovish policymakers and will reduce the odds of interest rates rising any time soon.”
Charts: Bloomberg
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Forward to NIRP.
And QE forever
Unfortunately it both the Service and Manufacturing sector. Its sad times for the economy
Layoff / Closing List: http://www.dailyjobcuts.com
"It's dead, Jim."
Forward to NIRP???? LMFAO!!!!! NIRP IS HERE!!!!
http://www.cnbc.com/bonds-us-treasurys/
1 month went negative a few weeks ago, 3 month went negative today.
Hey Tyler!!!! Any comments??? Make the message a happy one!!! LMFAO!!!!
This cracks me up. On one hand we have the central planners telling us everything is great and the eCONomy is set for rate normalization and on the other we have .gov's manipulated data telling us everything is falling apart. You just can't make this shit up.
It gets tough to keep track of one's own lies after a while.
“I'm not upset that you lied to me, I'm upset that from now on I can't believe you.”
Friedrich Nietzsche
You infidels are so depressing; I just heard the Wells Fargo analyst on NPR who said grote was 3.9% and the "economy is storng."
No joke! That's what he said. The host, Reems, did not even question him on it just nodded in agreement. Not one peep about the bloodbath of recent hob cuts in almost every sector.
But their models say that it'll be great...anytime now......
Because employers want to get paid. Accenture and its breahern are being cautious in the face of a likely Government Shutdown by the GOP, who have now found that they can create a profitable insider trading oppertunity for themselves by shutting down the Govt.
They passed a law against Insider Trading by Congress or Exec Branch Staffers in 2012, and then quitely gutted it in 2013, and just this year Congress has said that the SEC has no power to investigate its trading because of "seperation of powers". http://www.bloomberg.com/politics/articles/2015-03-20/thanks-for-the-sto...
So Yeah the service sector govt contractors are waiting until after Congress had its fun.
NIRP IS HERE!!!! http://www.cnbc.com/bonds-us-treasurys/
NIRP IS HERE!!!! http://www.cnbc.com/bonds-us-treasurys/
NIRP IS HERE!!!! http://www.cnbc.com/bonds-us-treasurys/
NIRP IS HERE!!!! http://www.cnbc.com/bonds-us-treasurys/
NIRP IS HERE!!!! http://www.cnbc.com/bonds-us-treasurys/
NIRP IS HERE!!!! http://www.cnbc.com/bonds-us-treasurys/
NIRP IS HERE!!!! http://www.cnbc.com/bonds-us-treasurys/
NIRP IS HERE!!!! http://www.cnbc.com/bonds-us-treasurys/