US S&P Global final service PMI 50.6 vs 50.5 prelim

• Prelim 50.5
• Prior 46.8
• Composite 50.1 vs 50.2 prelim
• Prior composite 46.8

Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, said:

"A return to growth of US service sector business activity in February for the first time in eight months has offset a decline in manufacturing output, helping stabilize the economy and hopefully avert a downturn in the first quarter.

"The upturn was led by a revival in spending on services by consumers and improved activity in the tech sector, but was also aided by a marked cooling in the recent downturn in financial services.

"Across both services and manufacturing, jobs growth has risen to a five-month high as business confidence about the year ahead has perked up to its highest since last May, reviving further from the low-point seen last October. Clearly the gloom heading into the winter has
been replaced with brighter prospects moving into the spring.

"This improving picture has, however, added to firms' pricing power. Having fallen to a 27-month low in January, the rate of inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term for goods and services re- accelerated in February to its highest since last October as companies reported greater success in passing higher costs on to customers."

The final report is rarely revised much, nor is it a market mover but the ISM services number is the big release for the week and coming out at the top of the hour. This puts a smidge of an upside bias into the headline, which is expected at 54.5.