- Prior 54.2
- Services employment 51.2 vs 51.0 flash and 51.8 in March. Lowest since March 2013
- Final composite PMI 55.6 vs 54.9 prior flash and 55.7 in March
- Composite employment 51.7 vs 51.5 flash and 52.2 in March
US services PMI 05 05 2014
As you can see from the bells and whistles above, decent gains for new business and prices but employment is still looking very soft.
Still, the dollar likes what it sees despite this not being that big a data point and USD/JPY is 2 pips over 102.00
“The survey data point to robust growth at the start of the second quarter, adding to hopes that the official data will show the economy rebounding strongly from the weather-related stalling seen in the first quarter Combined with the three-year high recorded by the manufacturing survey, the two PMIs suggest that the US economy enjoyed a strong start to the second quarter. GDP should rebound strongly from the 0.1% annualised rate seen in the first quarter.” Said Chris Williamson at Markit
