US ISM services fall to 50.1, worrisome mix of soaring prices, shrinking employment

U.S. ISM Services PMI fell from 50.8 to 50.1, below consensus of 51.5. Business activity declined from 54.2 to 52.6, while new orders dropped from 54.2 to 50.3. Notably, new export orders fell sharply from 51.1 to 47.9, marking the fourth contraction so far this year. The employment index also weakened further, down to 46.4 […]

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