The market was likely priced for a number a tad below consensus due to some softness in the regional surveys.
- Prior reading was 52.4
- Prices paid 61.0 vs 63.0 exp
- Employment 56.1 vs 53.2 prior
- New orders 54.5 vs 54.9 exp
Nice start to a big week of data but the market’s not overly excited.