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US DATA: Services PMI Lowest Prices Charged Inflation In Almost 4.5 Years

US DATA
USGlobalEM BulletFixed Income BulletsData BulletBulletMarketsEmerging Market NewsForeign Exchange BulletsRegionNorth America
  • The S&P Global US services PMI was revised down to 55.0 (cons & prelim 55.3) in October for a mild decline from 55.2 in September at a still solid level.
  • It meant the composite PMI was revised down to 54.1 (cons & prelim 54.3) for a mild increase from 54.0.
  • The press release notes still solid demand despite weaker external demand, but uncertainty weighing on employment: “New orders grew at a solid pace that was broadly in line with that seen in September, despite signs of weaker international demand. Business activity expectations revived from a 23-month low in September. Firms nevertheless continued to scale back staffing levels marginally amid uncertainty over future demand."
  • “[C]ompanies raised their charges at the joint-slowest pace in almost four-and-a-half years, in spite of a further sharp increase in input costs.”
  • See the full press release here.
Source: S&P Global
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  • The S&P Global US services PMI was revised down to 55.0 (cons & prelim 55.3) in October for a mild decline from 55.2 in September at a still solid level.
  • It meant the composite PMI was revised down to 54.1 (cons & prelim 54.3) for a mild increase from 54.0.
  • The press release notes still solid demand despite weaker external demand, but uncertainty weighing on employment: “New orders grew at a solid pace that was broadly in line with that seen in September, despite signs of weaker international demand. Business activity expectations revived from a 23-month low in September. Firms nevertheless continued to scale back staffing levels marginally amid uncertainty over future demand."
  • “[C]ompanies raised their charges at the joint-slowest pace in almost four-and-a-half years, in spite of a further sharp increase in input costs.”
  • See the full press release here.
Source: S&P Global