- Employment 55.2 vs 55.7 flash and 52.4 in Nov
- Final Dec composite index 56.1 vs flash & Nov 56.2
- Composite employment 55.0 vs 55.4 flash and 52.4 in Nov
New business up and expectations rise showing good optimism. The prices components edge down slightly.
“The U.S. economy appears to have ended 2013 on a strong note, especially in relation to hiring. An upturn in the rate of job creation in the service sector, added to strong job gains in manufacturing, sets the scene for another upbeat non-farm payroll report for December. Another month of job gains of at least 200,000 looks likely. Most encouraging in the December survey was the revival of business optimism. Fears about further government shutdowns and debt ceiling wrangling have eased markedly, paving the way for another buoyant year of growth. Business optimism rose markedly in December as a result.” Said Chris Williamson at Markit
US Markit Services composite PMI 06 01 2014
Don’t underestimate the power of optimism by companies as it can lead to increases in investment that have otherwise been weak. If that picks up to any degree it will be a big boost to the US economy and could be the difference between slow and steady and a faster rate of expansion.
