US Services Economy ‘Bounce’ Dies – PMI Tumbles To 5-Month Lows
by Tyler Durden
ZeroHedge.com
Jul 26, 2016
Despite an excited bounce in US Manufacturing PMI’s preliminary print (and ISM Services last month), Markit reports a disappointing drop in US Services to a 5-month low. New business slowed but that did not deter hope as business confidence rebounded (albeit from record lows). However, as Markit notes, “The U.S. service sector remained stuck in a low gear at the start of the third quarter of 2016…”
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