US: Markit Services PMI edges down to 55.3 in March beats expectation of 54.8
|"The seasonally adjusted final IHS Markit U.S. Services Business Activity Index registered 55.3 in March, down slightly from 56.0 in February," the IHS Markit said on Wednesday.
Key takeaways from the press release
- Although service sector firms were buoyed by hopes of further new business growth, they highlighted concerns surrounding uncertainty regarding global trade tensions, economic growth worries and more intense competition.
- Inflationary pressures continued to soften in March.
- Firms stated that labour and raw material costs had increased further, but to a less marked extent.
- In line with a strong upturn in new business, service providers noted a third successive rise in outstanding business.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.