- Prelim 50.5
- Before 46.8
- Composite 50.1 vs 50.2 Qualifiers
- Leading Composite 46.8
Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, said:
“U.S. service sector business activity returned to growth in February for the first time in eight months, offsetting a fall in manufacturing output, helping to stabilize the economy and offset the recession in the first quarter. It is hoped that this can be avoided.
“The upturn was led by rebounding consumer spending on services and improved activity in the technology sector, but was also helped by a significant cooling off from the recent downturn in financial services.
“Across both service and manufacturing, Job growth climbs to five-month high One-year-ahead business confidence bounced back to its highest level since May last year, further recovering from the lows seen last October.The darkness that is clearly heading for winter
replaced by bright prospects heading into spring.
“However, this improvement in the situation is increasing the pricing power of companies. After falling to a 27-month low in January, inflation
inflation
Inflation is defined as a quantitative measure of the rate at which the average price level of goods and services in an economy or country rises over a period of time. It is a general price level increase that causes a particular currency to buy less effectively than in previous periods. It is very influential when it comes to the strength of a currency and thus the valuation of foreign exchange, inflation or any such indicator. Inflation arises from the overall creation of money.this money is m
Inflation is defined as a quantitative measure of the rate at which the average price level of goods and services in an economy or country rises over a period of time. It is a general price level increase that causes a particular currency to buy less effectively than in previous periods. It is very influential when it comes to the strength of a currency and thus the valuation of foreign exchange, inflation or any such indicator. Inflation arises from the overall creation of money.this money is m
Prices for goods and services accelerated again in February to their highest since October as businesses reported success in passing on higher costs to customers..”
Final reports are rarely significantly revised and are not market-moving, but the ISM service figures were the big release of the week and come out on top of the time. This puts a slight upward bias on the expected headline of 54.5.