FYI: Like the ISM Manufacturing report earlier in the week, today’s release of the ISM Services report also came in weaker than expected, although unlike the ISM Manufacturing report, it remains comfortably in expansion territory. While economists were looking for the headline index to come in at a level of 56.0, the actual reading came in at 55.3, which is the lowest reading since April 2014. On a combined basis, this month’s ISM report dropped from 55.0 down to 54.4. That’s the fourth decline in the last five months and the lowest reading since March 2014. Even on a combined basis, economic activity is showing slower momentum.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/ism-services-disappoints/
