August final US Markit services PMI 54.8 vs 55.2 expected

Author: Adam Button | Category: News

Markit August final services PMI

  • Lowest since April
  • Prelim reading was 55.2
  • Prior was 56.0
  • Composite PMI 54.07 vs 55.0
  • New orders 55.1 vs 55.7 prior

The ISM non-manufacturing index is due at the top of the hour and this number adds a bit of downside risk.

From Markit: "The survey  data so far for Q3 signal annualised GDP growth of just under 3.0%. However, further momentum was lost in August, and the weakest rise in new orders for goods and services for eight months suggests growth could wane further in September"

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