December U.S. PMI composite flash cools

 

• December U.S. PMI Composite Flash: 55.7 vs. 57.4 consensus, 58.6 prior (revised from 57.9).
• Services PMI: 55.3 vs. 56.8 consensus, 58.4 prior (revised from 57.7).
• Rate of expansion eases to a three-month low.
• The loss of growth momentum follows rising virus case numbers and re-imposed restrictions in many states, as the post-election uptick and vaccine confidence waned, ISH Markit said.
• "The outlook for output over the coming year remained upbeat in December, but was tempered by renewed uncertainty regarding the pandemic and surging costs."