US Services Economy Declines Post-Trump, But Markit Sees “Green Light” For Fed Hike
Just days after Markit reported a surprising upward impulse for the US manufacturing sector under President-elect Donald Trump, moments ago we learned that the US service industry declined in the month of November. As Markit notes, ‘the November PMI surveys provide the first snapshot of US business conditions in the wake of the surprise election result, and show a reassuring picture of sustained solid economic expansion and hiring.”
New business improved at the fastest rate in a year but job creation remains flat (the rate of staff hiring was only modest in November and remained weaker than the average seen since the jobs rebound began in early-2010) as growth prospects fell slightly MoM.
Pick your poison…
This post was published at Zero Hedge on Nov 25, 2016.