“The seasonally adjusted IHS Markit Flash U.S. Services PMI Business Activity Index slipped to 54.2 in January from 54.4 in December, but still signalled a solid upturn in service sector output,” the IHS Markit announced on today.
Key takeaways from the press release
- New business growth remained subdued in comparison to the peaks seen in the first half of 2018.
- Service providers signalled only a modest rebound in business expectations from the 12-month low seen in December.
- Subdued growth projections for the year ahead contributed to more cautious hiring strategies in January.
- The latest increase in payroll numbers was the weakest since April 2017.
- The main positive development in January was a slowdown in input cost inflation to its lowest for almost two years.
Share
