FYI: After a very strong ‘hard’ data report earlier in the day from ADP, today’s ‘soft’ data point came in weaker than expected in the form of the ISM Services report. While economists were forecasting the headline reading to come in at a level of 57.0 versus last month’s reading of 57.6, the actual reading came in at 55.2, which was the lowest reading since October. On a combined basis, the ISM report for March declined to 55.4 from 57.6, marking the first m/m decline since October.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/ism-services-declines-to-lowest-level-since-october/
