The June survey from Markit
- Prelim was 46.7
- Prior was 37.5
- Composite PMI 47.9 vs 46.8 prelim
This is a good signal ahead of the ISM non-manufacturing index due at the top of the hour. The consensus is 50.2 but given that US data has routinely beat expectations, I'd expect the market is closer to 51-52.
