Export sales are a highlight of the manufacturing results as is production, employment and overall orders. The report's sample is trying to build inventories while traction for selling prices is the strongest in more than four years, both tangible signs of strength.
Details on the service sector belie the weakness in the headline with acceleration in new orders and employment continuing to expand. Selling prices here are also on the rise.
Recent History Of This Indicator:
Markit's set of U.S. indicators showed strength in December but reversed order with manufacturing pulling ahead and services, which had been consistently stronger, slowing noticeably. Still, the service sample did show strength in the last two weeks of December which points to momentum for January. The consensus for January is another solid showing, at 54.0 for the composite, also 54.0 for services, and 55.0 for manufacturing.
Markit's set of U.S. indicators showed strength in December but reversed order with manufacturing pulling ahead and services, which had been consistently stronger, slowing noticeably. Still, the service sample did show strength in the last two weeks of December which points to momentum for January. The consensus for January is another solid showing, at 54.0 for the composite, also 54.0 for services, and 55.0 for manufacturing.
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