The Good, The Bad, And The Inflationary

The Good, The Bad, And The Inflationary

Services activity was more robust than anticipated in January, according to ISM. At 58.7, the headline gauge printed a sizable beat, taking the index to the highest in nearly two years in the process. The range, from more than five-dozen economists, was 55-58. December was revised higher. Generally speaking, this was a good report. The business activity gauge slipped, but only marginally, and new orders rose to 61.8 from 58.6. Perhaps most encouragingly, the employment subindex jumped from
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