US Services Economy “Momentum Shifts Down A Gear”, Slides Back Towards 2015 Lows

Tuesday, August 25, 2015
By Paul Martin

by Tyler Durden

Hot on the heels of a 22-month low recorded by the latest flash Manufacturing PMI survey, August’s preliminary Services PMI was slighlty better than expected but dipped from 55.7 to 55.2 – back towards the lowest levels of 2015. Under the surface things do not look great with New Business Volumes at their weakest since January amd Prices Charged tumbling to the lowest level since June 2013. As Markit notes, “underlying momentum within the U.S. economy had shifted down a gear even before the recent global market turmoil and escalating worries about China‚Äôs growth outlook gathered on the horizon.”

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