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US Services PMI at 64.1%; July 2021 Services ISM Report On Business
Economic activity in the services sector grew in July for the 14th month in a row, say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®. The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee: "The Services PMI® registered another all-time high of 64.1 percent, which is 4 percentage points higher than the June reading of 60.1 and eclipses the previous record of 64 percent in May 2021. The July reading indicates the 14th straight month of growth for the ... (full story)
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— Flow (@FlowTraderTM) August 4, 2021
US ISM Non-Mfg Employment Actual 53.8 (Previous 49.3)
US ISM Non-Mfg Prices Paid Actual 82.3 ( Previous 79.5)
US ISM Non-Manufacturing PMI Actual 64.1 (Forecast 60.5 Previous 60.1)
US ISM Non-Mfg New Orders Actual 63.7 (Forecast - Previous 62.1)
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US Services Surveys Signal Stagflation As Prices Soar
After a mixed bag on the Manufacturing side, (ISM at 2021 lows; PMI at record high), the Services sector did the same... but mirrored. Markit's Services sector survey slipped to its weakest since February (down from 64.6 to 59.9 in the final July print) ISM's Services sector roared back from weakness in June to a record high (up from 60.1 to 64.1) This mixed message ignores the continuing trend in weaker than expected macro data for the US... chart As the 'hope' in Services tumbles back to reality... chart Inflationary pressures remained substantial at the start of the third quarter. Input costs rose markedly, ... (full story)
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