US ISM Services Sector PMI in October Shows Tenth Consecutive Month of Expansion

The ISM Non-Manufacturing Index or Services PMI decreased to 51.8% in October (consensus 53.0%) from 53.6% in September. The dividing line between expansion and contraction is 50.0%, meaning in October services are still in expansion, but at a slower pace than September. October marked the tenth consecutive month of growth for the services sector. The trend tempers hard-landing fears and presumably and have contributed to the Fed’s inclination to implement additional tightening. The easrly release of a slowing jobs market … Continue reading “US ISM Services Sector PMI in October Shows Tenth Consecutive Month of Expansion”

US ISM Services Sector Growth Slows in July with New Orders and Employment Pullback

The ISM Non-Manufacturing Index for July pulled back to 52.7% (consensus 53.0%) versus 53.9% in June. The deceleration in July suggests activity in the services sector lost some steam versus the prior month. Services sector activity continued to expand in July, but at a slower pace than the prior month. The majority of respondents remain cautiously optimistic about business conditions and the economy. Business activity for the services sector, which comprises the largest component of U.S. economic activity, has quickly rebounded … Continue reading “US ISM Services Sector Growth Slows in July with New Orders and Employment Pullback”

US Services Sector Grows at Slowest Pace in Five Month in July – S&P Global PMI

The Flash S&P Global Flash US Services Business Activity Index for July increased to 53.7%, below a consensus 51.5% and just over 52.6% in March. The rate of expansion eased to the slowest for five months. Services firms reported the slowest rise in employment for six months in July, continuing to highlight challenges retaining and attracting staff due to rising wage costs. Some firms also noted a lack of skilled candidates for open vacancies S&P reported. Service providers recorded a marginal … Continue reading “US Services Sector Grows at Slowest Pace in Five Month in July – S&P Global PMI”

US ISM Services Sector PMI Expansion in June Shows Employment Rising While Prices Fall

The ISM Non-Manufacturing Index for June was much higher than expectations at 53.9% (consensus 51.1%), increasing from 50.3% in May. The increase from May underscores the activity in the services sector picking up steam in June. The New Orders Index expanded in June for the sixth consecutive month after contracting in December for the first time since May 2020; rising to 55.5 versus 52.9 expected. The employment index rose to 53.1 versus 49.2 prior and new orders rose to 55.5 … Continue reading “US ISM Services Sector PMI Expansion in June Shows Employment Rising While Prices Fall”

US ISM Services Sector PMI Expansion in April Supports Soft Landing outlook

The ISM Non-Manufacturing Index for April increased to 51.9% (consensus 51.9%) from 51.2% in March. The US services sector expanded in February for the fourth consecutive month. Business activity for the services sector, which comprises the largest component of U.S. economic activity, has quickly rebounded into growth mode after contracting for the first time since May 2020 in December. The majority of respondents are mostly positive about business conditions, yet some see headwinds related to inflation and an economic slowdown.  This is … Continue reading “US ISM Services Sector PMI Expansion in April Supports Soft Landing outlook”

US Services Sector Business Confidence & Output Growth Accelerates – S&P Global PMI

The Flash S&P Global Flash US Services Business Activity Index for April increased to 53.7%, ahead of a consensus 51.5% and just over 52.6% in March. The US services sector business confidence was the 2nd highest in a year. The upturn in output at service providers was the quickest for a year and solid overall, as greater employment and stronger demand supported the increase S&P said. New business grew for the second successive month in April, as the rate of expansion … Continue reading “US Services Sector Business Confidence & Output Growth Accelerates – S&P Global PMI”

US Services Sector PMI Continues Return To Expansion in February – ISM

The ISM Non-Manufacturing Index for February increased to 55.1%, ahead of a consensus 54.5% and just under 55.2% in January. The US services sector expanded in February for the second consecutive month. Business activity for the services sector, which comprises the largest component of U.S. economic activity, has quickly rebounded into growth mode after contracting for the first time since May 2020 in December. The sector has grown in 32 of the last 33 months, with the lone contraction in December. This … Continue reading “US Services Sector PMI Continues Return To Expansion in February – ISM”

US Services Sector Rebounded Sharply from Contraction in January – ISM

The ISM Non-Manufacturing Index for November increased to 55.2%, well ahead of a consensus 50.3% and up from 49.6% in December. Business activity for the services sector, which comprises the largest component of U.S. economic activity, quickly rebounded into growth mode after contracting for the first time since May 2020 in December. This is supportive for the soft-landing scenario. The report follows the blowout January jobs report also released Friday indicating the economy is still hotter than the Federal Reserve would … Continue reading “US Services Sector Rebounded Sharply from Contraction in January – ISM”

Employment Costs Moderate in Q4 as Fed Meets on Rates

Employment costs moderated at the end of 2022 back to levels that are still historically strong, according to the employment-cost index (ECI). Private and total workers saw compensation rise 1% in Q4 (seasonally adjusted), and 5.1% on the year. This followed a 1.2% increase for September quarter. Benefit costs increased 0.8% (versus 1.0% prior). Fed officials have said they pay close attention to the employment-cost index, seeing it as a comprehensive measure of wage growth. Wages and salaries account for … Continue reading “Employment Costs Moderate in Q4 as Fed Meets on Rates”

Bitcoin Falls 65% in 2022 Failing to Live Up to the Store of Wealth Billing

Leading cryptocurrency Bitcoin in 2022 failed to live up to its desired purpose esposed by its proponents as being a safe asset that only went up and was disconnected from fiat currencies. In 2022 Bitcoin dropped 65%, Solana collapsed 94%, Cardano 81% and Ethereum lost 68%. BTC was hovering around $16,500 on December 30, well below its all-time high of nearly $70,000 hit in November 2021. The fall coincided with the rise in interest rates and the strength of the … Continue reading “Bitcoin Falls 65% in 2022 Failing to Live Up to the Store of Wealth Billing”