January US Markit services PMI final data 56.7 vs 56.6 prior

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  • Up from 56.1 in December
  • Employment unch at 54.1 vs 55.2 in Dec
  • Composite 56.2 vs 56.0 flash and 56.1 in Dec (employment in the comp index fell to 53.9 from 55.0 prior)
  • New business 56.4 vs 57.9 in Dec

US Markit services PMI f 05 02 2014

 

Chris Williamson at Markit  expects non farm payrolls to bounce back to the 200k mark

“Markit’s PMI surveys indicate that US business enjoyed a strong start to 2014. Despite disruptions caused by record low temperatures in parts of the country, business activity rose strongly again in both manufacturing and services. The full picture from the two surveys is one of growth weakening only very marginally in January despite the big freeze, setting the scene for another quarter of at least 3% growth. The pace of hiring ticked down slightly, but remains resilient as firms report the brightest business outlook for three years. The January survey is signalled service sector payroll growth of around 180,000 on top of a 10,000 rise in manufacturing. We’d therefore expected to see monthly non-farm payroll growth revert back to around 200,000.”

US Markit services PMI flash vs final 05 02 2014

US Markit services PMI flash vs final 05 02 2014

Author: Ryan Littlestone

Ryan Littlestone has been working in financial markets for more than 20 years. Wide-eyed, he stepped out of Bank station in London to join LME founding member Rudolf Wolff where he worked his way to the main order desk and brokered customer orders to the LME floor and across virtually every global market. An opportunity to help set up and run a new LIFFE floor operation saw him catch the trading bug and it wasn’t long before the pull of the pits was too great to refuse. He became a ‘local’ and has been trading his own account for more than 11 years.

2014-02-05T13:58:03+0000

All|Americas|Regions

Markit services PMI|US economy|us services

Ryan Littlestone

3 Comments

  1. ryan do you actually believe this sort of data is worth anything? How a ‘purchasing manager’ feels? I felt awful this morning at 7.30 waking up .. but at 8.05 when I poured my coco pops I felt great.

  2. Ha ha anand. It’s what we get so we have to go with it. I hope they don’t ask views in the UK during this tube strike or I can see it being full of two word answers with the second word being “off” ;-)

  3. Get off? Log off? Put off? Hold off ?

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