by Mike ‘Mish’ Shedlock
The Non-Manufacturing ISM dipped slightly from 56.5 to 55.5 but Bloomberg Econoday case spins the setup as positive, as is typically the case.
Markit chief economist Chris Williamson has a differing opinion following today’s release of Markit Services PMI.
Since the two surveys both cover the service economy, only one can be correct. First, let’s look at the Non-Manufacturing ISM Report, then compare opinions.
Non-Manufacturing ISM Data Components