-7.6 C
New York
Saturday, January 24, 2026

Services PMI and Non-Manufacturing ISM Diverge Strongly Again

Courtesy of Mish.

The soft data divergence between the ISM Non-Manufacturing Report on Business and the Markit Services PMI widened again today. Let’s take a look at each report.

ISM Non-Manufacturing vs ISM Manufacturing

Non-manufacturing production, new orders, prices, and inventories are all ups strongly. Employment was the laggard.

The past relationship between the NMI® and the overall economy indicates that the NMI® for April (57.5 percent) corresponds to a 3.3 percent increase in real gross domestic product (GDP) on an annualized basis.

That quote is from the same folks who predicted 4.3% GDP growth in the first quarter.

Markit Services PMI

Markit: “Business Activity Subdued”


Continue reading here…

Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments

Stay Connected

149,628FansLike
396,312FollowersFollow
2,640SubscribersSubscribe

Latest Articles

0
Would love your thoughts, please comment.x
()
x