US Markit Feb services PMI final reading now out 5 March
- 55.9 flash
- composite 55.8 vs 55.9 flash
Move along folks. Nothing to see here. Slight down in final composite but PMIs don't have the same clout these days even when well wide of the mark. Any reaction to the decent numbers will have been made on the flash readings anyhow.
Every dog has its day eh?
USDJPYposting 105.80 as the option clock ticks down but USD elsewhere unfazed with GBPUSD at 1.3813, EURUSD 1.2315 AUDUSD 0.7735 USDCAD 1.2977
Say Markit:
- Business activity across the U.S. service sector expanded sharply in February, according to the latest PMI data. The upturn in output accelerated to the fastest since August 2017. In addition, greater client demand led to a steep rise in new business, which rose at the strongest pace in almost three years.
- Capacity pressures intensified as a result of the upswing in demand, with backlogs of work accumulating to the greatest extent since March 2015.
- Meanwhile, rates of both input and output price inflation accelerated, with the former reaching the fastest since June 2015.
Full report here
