Service Sector Growth Weakest Since 2009; Markit Economist Estimates 0.7% GDP

May 25, 2016

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”.

Continue Reading at MishTalk.com…

Financial Survival Network (FSN) content is informational only and based on information available at the time of creation. It is not an offer or solicitation, nor does it provide investment, tax, or legal advice. It may not consider your specific financial circumstances or objectives and may not be suitable for you. FSN content is not a recommendation to buy or sell any securities. Readers should consult their own professional advisers and conduct their own independent investigations before making any investment decisions. FSN does not guarantee the accuracy or completeness of its content or any third-party information it uses, which has not been independently verified by FSN. Readers are cautioned not to rely solely on FSN content for investment decisions.

FSN and its owner may have financial interests in the companies discussed and may trade such securities without prior notice. FSN is funded by sponsor advertisements, with payments ranging from five to ten thousand dollars monthly. FSN does not charge its viewers/listeners/readers any fees. By accessing FSN content, users agree that FSN and its affiliates are not liable for any inaccuracies, omissions, or representations in the content provided.