The second reading on April services
- 14th consecutive month above 50
- Initial reading was 52.5
- Final March reading was 52.8
- Composite index 53.2 vs 52.7 prior
- Services employment 50.7 vs 50.8 flash and 51.8 prior -- matches lowest since July 2010
- Composite employment 51.1 vs 51.7 prior -- lowest since Feb 2010
The slowdown in jobs growth shouldn't come as a huge surprise given that the US is near full employment but it's still a negative signal ahead of non-farm payrolls.
The ISM non-manufacturing index is due at the top of the hour.