April 2021 ISM and Markit Services Surveys Remain Well Into Expansion
The ISM declined but remained in expansion whilst the Markit PMI improved and advanced further into expansion.
Analyst Opinion of the ISM and Markit Services Survey
With the economy reopening, it comes as no surprise that both of these indices are well into expansion.
From Econoday:
Most marked upturns in output and new orders on record
Employment growth accelerates
Cost pressures strongest on record
April PMITM data indicated a marked and unprecedented expansion in business activity across the U.S. service sector. Supporting the upturn in output was the fastest increase in new business on record. Pressure on capacity remained evident, as backlogs of work accumulated at a faster pace and employment rose at the second-sharpest rate on record. Some concerns regarding the sustainability of new order inflows weighed slightly on business confidence, although optimism remained relatively strong. Meanwhile, input
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by Tyler Durden
Friday, Apr 23, 2021 - 08:03 AM
US equity futures rebounded Friday following Thursday s 1% selloff as investors digested a proposal for higher capital gains taxes and realized that i) it is nothing new compared to previous media reports and ii) the most likely outcome is a compromise tax rate (Goldman expects a final number no higher than 28%). Still, both the S&P 500 and Dow are on course for weekly declines, after four straight weeks of gains. At 730 a.m. ET, Dow e-minis were up 38 points, or 0.11%, S&P 500 e-minis were up 9 points, or 0.22%, and Nasdaq 100 e-minis were up 18.5 points, or 0.14%.
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According to the latest Labor Department report, total nonfarm payroll employment rose by 916,000 in March and the unemployment rate fell to 6.0%, reflecting the resumption of economic activity that had been thwarted by the pandemic. In the United States, there has been a noted expansion in manufacturing activity over the past 10 months. The Caixin China General Manufacturing PMI has remained above 50 since May last year, highlighting expansion. Meanwhile, the IHS Markit E