Markit Sept prelim services PMI 54.6 vs 54.5 expected

by admin

The manufacturing and services PMIs from Markit

  • Prior was 55.0
  • Manufacturing 53.5 vs 53.5 expected
  • Prior manufacturing was 53.1
  • Composite 54.4 vs 54.6 prior

These are all very close to expectations. What’s notable is that we’ve gone from a long period of major beats on US economic  data to a time where the numbers frequently match estimates. It shows that economists have a much better handle on what’s happening.

The thing is, the baseline for economists is a slow recovery from here and I’m not sure that’s what is priced into the market.

For bank trade ideas, check out eFX Plus

Related Posts

Leave a Comment