US Services Economy ‘Bounce’ Dies – PMI Tumbles To 5-Month Lows

Tuesday, July 26, 2016
By Paul Martin

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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