A post by @DeItaone on X.
US OCT FINAL SERVICES PMI 56.1 (57.9 FLASH, 58.8 SEP)
@DeItaone on X
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US October final services PMI came in at 56.1, revised down from the 57.9 flash estimate and below September's 58.8, while the final composite PMI fell to 55.9 from the 57.6 flash reading and 58.4 in September. Both gauges remain firmly in expansion territory but the downward revisions signal momentum cooled more than initially reported during the month. The data point to a slower pace of business activity growth in the US services sector, which accounts for the bulk of output and employment. Markets will watch whether the softening extends into November surveys and how it feeds into Federal Reserve thinking on rates.
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Named in this story
US Composite PMI, US Services PMI