ISM Non-Manufacturing (Services) PMI Misses Estimate
The second of the two measures gauging the health of the US economy compounded concerns that the relatively strong US economy is showing signs of concern. The ISM non-manufacturing PMI data came in at 51.2 vs expectations of 54.5 and a prior print of 55.1 in February.
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Signs of Concern Emerge for the US Economy
The disappointing US services data comes after the ISM manufacturing data plunged deeper into contractionary territory (46.3 from 47.7 in Feb), ADP employment data declined (145k vs 242 in Feb) and US job openings eased from 10.824 million to 9.931 million.
— Written by Richard Snow for DailyFX.com
Contact and follow Richard on Twitter: @RichardSnowFX