September manufacturing and services PMI
- Prior was 50.3
- Services PMI 50.9 vs 51.5 expected
- Prior services PMI 50.7
- Composite PMI 51.0 vs 50.7
Manufacturing beat estimates but services were soft for the second month. The combination paints a picture of an economy that's more-resilient than Europe but undoubtedly weaker than was hoped at the start of the year.
Within the details, the employment component of the services survey fell below 50 for the first time since 2010.
