Is America’s Services Motor ‘Sputtering’?
US services sector activity expanded in July at a modest pace, data released on Thursday showed.
The update came on the heels of manufacturing PMIs which suggested America's factories remain mired in a protracted downturn, even if a few scattered bright spots may together constitute a light at tunnel's end.
ISM services printed 52.7, below estimates, but not by a lot. Consensus wanted 53.1. The range, from five-dozen economists, was 52 to 54.7.
Meanwhile, the final read on S&P Global's
I’ve been paying way too much for cocktails lately and they haven’t been strong enough either.
maybe if Taylor swift had a few more concert dates that PMI services could get to 80 or 90.
or keep indicting trump and arrest Joe and hunter Biden. that will keep the legal profession busy for the next several years
I recently listened to ‘We need to talk about inflation’ on Audible. I was pretty sure the narrator was AI as it/he didn’t ever seem to know when to pause for emphasis. I checked and found out that I was wrong, it’s a real person, making me question even harder how long it will take before AI saturates our lives. More pertinent to this article , however, I walked away thinking that the author is probably onto something…..there’s a good and likely underpriced chance that inflation isn’t going to fit neatly back into its bottle given current macro/monetary/fiscal setup. Time to buy some more gold methinks.
Side note to H – I’d caution against you reading (or listening to) the book if you haven’t already. The author’s views on MMT might boil your blood!