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New Orders Slide In Potential Canary For US Services Sector
A crucial update on activity in the mighty US services sector was broadly in line with expectations Wednesday, although a key subindex suggested demand is waning.
At 53.6, the headline ISM services print matched estimates, and fell slightly from the prior month.
The range of forecasts (I'll be generous today and not call them "guesses") from five-dozen economists was 52 to 55.
Meanwhile, the final read on S&P Global's services gauge for September was 50.1, a tick lower from the flash es
Greedflation still a factor propping up prices. I harken back to the three straight quarters where the CEO of PepsiCo boasted how they pushed through 16% q-o-q price hikes. When that no longer works, perhaps the Wharton grad will finally see his textbook models vindicated?