US Services PMI Falls For 2nd Month In A Row

From the earlier August flash print of 58.5, Markit’s US Services PMI rose modestly to 59.5 but has now fallen 2 months in a row to the lowest since May. While a solid number in ‘expansionary’ >50 territory, pressure on margins continues as input cost inflation picks up. Employment gained also, prompting Markit to question “how long policymakers will be comfortable with the economy growing at this pace before hiking interest rates?”

This post was published at Zero Hedge on 09/04/2014.