“Services Will Save Us” Meme Collapses As Non-Manufacturing PMI Plunges To 2015 Lows
by Tyler Durden
ZeroHedge.com
12/18/2015
While correlation is not causation, one would have to be an ignorant unicorn-worshipper to believe that a collapse in America’s manufacturing would not have some follow-through. Following the crash in Manufacturing, Markit reported America’s Services economy massively missed expectations and plunged to 53.7, lowest since Dec 2014. New orders plunged to the lowest since January 2015 and employment tumbled. As Markit reports, this is “disappointing news for an economy which has seen the first US interest rate hike for almost a decade.”
The Rest…HERE
