US Services Sector Rebounds Despite Slump In Employment

Despite the hope-narrative-crushing drop in Manufacturing data (ISM/PMI), Services data in April (PMI/ISM) showed improvements. Markit PMI rose modestly despite continued input price inflation (21-month highs) and a plunge in employment (to its lowest growth since July 2010). ISM Services also showed employment slip but new orders exploded higher.
ISM Services printed 57.5 – above all 73 economists’ estimates…
With manufacturing plunging, Services apparently rebounded…

This post was published at Zero Hedge on May 3, 2017.