Highlights from the March 2016 US Markit services PMI flash report
- Prior 49.7
- New orders 50.8 vs 52.1 prior
- Composite flash 51.0 vs 50.0 prior
- New orders 51.2 vs 52.2
Missed expectations but the important news is it's back in expansion. New orders are down a touch but that's a small negative today. Prices charged are at the highest since Nov. Input prices were lower but there may be good news coming on the wage front;
"Meanwhile, input cost inflation slowed in March and remained close to the lows seen at the turn of the year. Survey respondents noted that lower fuel prices had helped to offset stronger salary pressures at their units."
Markit's Chris Williamson isn't letting the better data get ahead of itself, he says that the PMI's so far suggest Q1 GDP of around 0.7%
