US S&P Global Services PMI Final (Feb) 51.7 vs. Exp. 52.3 (Prev. 52.3, Rev. From 52.7)
Importance
Level 1
- “Combined with a sharp slowing of manufacturing output growth in February, waning service sector performance indicates that the economy is growing at an annualized rate just below 1.5% so far in the first quarter, though hopefully this will improve somewhat if we see a weather-related bounce back in March".
- "...optimism about the year ahead remains subdued by concerns over government policies, and is especially low in the service sector...".
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