by Mike ‘Mish’ Shedlock
Mish Talk
If the US economy is ready for rate hikes starting June, you certainly would not ascertain that fact from the service sector PMI.
Today the flash reading shows service growth is the weakest since 2009, barely above contraction.
The Markit Flash U.S. Services PMI™ shows “Weak service sector growth persists in May, while business optimism eases to its lowest for over six-and-a-half years”.