US services PMI contracts, prints at 28-month low in February

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 24, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The preliminary US services PMI came-in at 49.8, missing the estimated figure of 53.5 by a wide margin. The prior figure stood at 53.2.

    Key Points

    New orders index printed at lowest since Jan last year

    Service sector charges increased only fractionally in February and the rate of inflation slipped to a five-month low

    Weaker business sentiment and softer new order growth did not prevent a further upturn in payroll numbers in February
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