US Services Economy Crashes To 2015 Lows (And Surges To 6-Month Highs) – Obamacare Blamed
by Tyler Durden
ZeroHedge.com
12/03/2015
US Services PMI rose from 54.8 in October to 56.1 in November – the highest since May 2015 (but this is a drop from the flash print of 56.5 and 2nd biggest miss against expectations of the year). ISM Services crashed from 59.1 to 55.9 (drastically missing expectations) hovering near its lowest since April 2014. Weakness is across the board with Business Activity, New Orders, Employment, Backlog, Exports and Imports all down. Why is the service economy slipping? Simple, the “Affordable Care Act impacting our business, reducing revenue while increasing cost of care.”
The Rest…HERE
