FAST FIVE: US Services Sector Dips On Weak Employment (Or Surges Back Near Record Highs)
So ISM sees new orders rising but Markit sees it plunge.
However, ISM's report also indicated that continuing trade tensions and easing global growth are affecting service providers, a trend weighing on investors' perceptions of the economic outlook. Export orders decelerated by the most since May while a measure of imports rose the most since March.
and continuing to add jobs in impressive numbers.
“However, while new business growth remained encouragingly resilient, it has eased to the lowest in over a year as demand showed some signs of softening, linked partly to growing concerns over trade wars, slower global demand growth, rising political uncertainty and tighter financial conditions.
Such concerns have also dampened business expectations about the year ahead, adding to signs that growth may have peaked, though any slowing in growth looks likely to be only modest.” And finally, Williamson notes that “The PMI surveys paint a picture of an economy growing at a solid annual rate of 2.5% so far in the fourth quarter…” Take your pick America.