Service PMI Misses, Tumbles To 7-Month Lows, “Extreme Weather” Warning For GDP Issued

Jon Alternative Media, Blogosphere, Economy

On the heels of the biggest miss on record for US Manufacturing PMI (which corresponded un-decoupling-ly with disappointing European and Chinese Manufacturing PMIs), Markit’s Services PMI printed 56.3, missing 57.3 expectations and notably down from October’s 57.1 to 7 month lows. As Markit notes, the index has now pointed to softer growth of business activity in each of the past five months, to signal a sustained loss of momentum since the post-crisis peak seen in June. What is even more worrying… Markit points out that the economic upturn has lost considerable momentum, and with extreme weather hitting parts of the country, growth could slow even further.
Services PMI ugly…

This post was published at Zero Hedge on 11/24/2014.