• HUMAN REPORTERS · NOT MACHINES

    Services PMI Beats Big But Employment Shows Weakness

    By CDM Staff
    October 5, 2020
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    Services PMI Beats Big But Employment Shows Weakness
    Image by Ann Larie Valentine

    ISM and Markit Services data released this morning showed a surge of service demand but a slowing in service employment. This could show service businesses are learning to do more with less in terms of labor costs.

    Financial markets are rising almost 2% this morning due to expectations President Trump will soon be released from the hospital and return to work.

    Markit Services PMI (Sep) printed at the consensus estimate of 54.6.

    Markit PMI Composite (Sep) printed at 54.3 vs 54.4 estimate.

    ISM Services New Orders Index (Sep) printed at 61.5 vs 44.7 estimate.

    ISM Services PMI (Sep) printed at 57.8 vs 56.3 estimate.

    ISM Services Employment Index (Sep) printed at 51.8 vs 58.1 estimate.

    ISM Services Prices Paid (Sep) printed at 59 vs 61.1 estimate.

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    CDM Staff

    The mission at Creative Destruction Media is to be the catalyst for the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."
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