USA Markit Flash Services PMI

Description

The Manufacturing Purchasing Managers Index (PMI) captures business conditions in the services industry. The closely followed report, which is released on a monthly basis by Markit Group, is based on primary consultations with managers in the service economy. A reading above 50.0 represents expansion in the services industry, whereas a reading below 50.0 signifies contraction.
Latest Release: 24-11-2014 13:45:00
Next Release: 25-04-2014 13:45:00
Source:Markit Economics
US Durable Goods Orders On The Rise
Sep 25th, 2014 at 07:08 PM

US Consumer Sentiment is continuing to remain strong according to the latest Bloomberg Consumer Confidence survey, this weekly check on the pulse of the consumer sector in the world’s largest economy is now showing a reading ox 37.2, this is in line with last week’s number of 37.2. Meanwhile there are ongoing signs of robustness in the services sector judging by the preliminary Purchasing Managers Index (PMI) from Markit Economics, the early reading on the September statistic for the Services PMI is showing a figure of 58.5 in comparison to the August final print of 59.5 and a market consensus estimate for 59.0 this month.

The headline release for the US economy today however is the August Durable Goods Orders data. Month on month the key Durable Goods Orders number has fallen –18.2%, this follows an expansion of 22.6% in the month of July and has come in ahead of the market consensus estimate for a contraction of -18.0% in the August numbers. The less volatile Core Durable Goods Orders figure is showing a change on the month of 0.7%, July saw this contract by -0.7% and a reversal to this level of 0.7% expansion was anticipated in the latest data. Excluding Defence Orders the Durable Goods number...