Thursday, December 18, 2014

At this rate - the service sector will be in contraction next month.

"The U.S. services sector expanded in December at its slowest rate since February as growth in employment and new business slowed, an industry report showed on Thursday.

Financial data firm Markit said its "flash" services Purchasing Managers Index hit 53.6 in December, down from November's final reading of 56.2 and well below economists' expectations for a rise to 56.9 according to a Reuters poll.

The growth rate has slowed steadily since peaking this year at 61 in June, but is still above the 50 level that signals expansion in economic activity." Source.

Emphasis mine.

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