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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- Services, and therefore composite, PMI activity was stronger than first thought in February.
- It left the services index little changed from January whilst the composite increased 0.5pts on the back of manufacturing strength seen last week (but importantly a change not repeated in the separate ISM mfg index with its surprise decline).
- Services PMI at 52.3 (cons 51.4, flash 51.3) after 52.5
- Composite PMI at 52.5 (cons 51.4, flash 51.4) after 52.0.
- From the S&P Global press release on the composite details: “February data indicated a broad-based easing of cost pressures, as input prices rose at the slowest pace since October 2020. Firms sought to pass-through higher costs to customers, however, as selling price inflation quickened from January, albeit remaining the second-lowest since mid-2020.”
- “Meanwhile, total employment growth remained only modest midway through the first quarter. Although manufacturers stepped up their hiring activity, service providers indicated a historically subdued pace of job creation amid cost-cutting initiatives and labor shortages.
Source: S&P Global
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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