Markit US services PMI
- Prelim was 57.5
- Prior was 54.8
- Composite PMI 58.7 vs 58.0 prior
- Fastest rise in cost burdens on record (since 2009)
- Full report
This is just shy of the November reading of 58.4. In January the US was in the jaws of the pandemic and this is one of the best readings on record and it's the services sector, which is hardest hit. The Fed might be looking back on this in a few years and wonder why they're so dovish.
