On the heels of 5 months of weakness in Services PMI, and 2 months of weakness in ISM Services, it only makes sense that ISM’s Services print would massively beat expectations at 59.3 (against 57.5). All ISM subindices rose – apart from employment (which dropped to 4 months lows)! Just 15 minutes after one survey indicates a drastic slowdown in domestic demand for services, another one says it has almost never been better…
Huge beat in ISM Services…
What a difference 15 minutes makes…
Charts: Bloomberg
via Zero Hedge //feedproxy.google.com/~r/zerohedge/feed/~3/cmwhFVHNAec/story01.htm Tyler Durden