FYI: After last week’s report that showed stronger than expected growth in the manufacturing sector, today’s ISM report in the services sector also showed better than expected growth. While economists were expecting the ISM Non-Manufacturing survey to come in at a level of 54.2, the actual reading came in at 54.5. That’s still near the lows of the last two years, but it does break a streak of four straight monthly declines. On a combined basis and accounting for each sector’s share in the overall US economy, the ISM report for March came in at a level of 54.2, which is below levels seen as recently as January but is the highest reading for 2016
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/ism-services-report-beat-expectations/
