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What Virus? US Private Employment Strong… Services Beat

Despite the raging coronavirus outbreak globally, private employment in the United States, at least in the short term, is still going strong with the ADP Employment Change (Feb) beating the consensus estimate at 183k vs 170k expected.

Services also beat…with new business coming in strong for the month. No coronavirus to be seen in these numbers yet, although most likely it will raise its ugly head eventually.

Markit Services PMI (Feb) printed at the estimate of 49.4.

Markit PMI Composite (Feb) printed at the estimate of 49.6.

ISM Non-Manufacturing New Orders Index (Feb) printed at 63.1 vs the estimate of 56.3.

ISM Non-Manufacturing PMI (Feb) printed at 57.3 vs the estimate of 54.9.

ISM Non-Manufacturing Employment Index (Feb) printed at 55.6 vs estimate of 54.1.

ISM Non-Manufacturing Prices Paid (Feb) printed at 50.8 vs estimate of 54.5.

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