US Services Sector Slumps As Business Outlook Nears 2-Year Lows

Wednesday, November 5, 2014
By Paul Martin

by Tyler Durden
ZeroHedge.com
11/05/2014

US Services dropped modestly from the 58.9 in September to a final print at 57.1 in October the lowest since April. This should be no surprise as for the last 5 years, H2 has seen a notable decline in the soft-survey-based data. Despite the plunge, employment remained solid even as the business outlook neared 2-year lows. As Markit notes, the survey “warns of a slowdown as move towards the end of the year,” which is odd because the world and his pet rabbit said US was decoupling. For a change ISM Services actually agreed with Markit and printed 57.1, missing by the most since Feb 2014 with New Orders and Prices Paid down.

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