USA service sector output growth slows in February 2014

servicesector

Image via Telegraph.co.uk

New York, United States, February 24th, 2014.- Markit Economics presents the Purchasing Managers’ Index (PMI) of the United States service sector corresponding to February.

 

The Markit Flash US Services PMI Business Activity Index registered 52.7 points in February, down from a four-month high of 56.7 in January. The latest PMI reading was the lowest since last October.

 

PMI readings above 50.0 signal an increase or improvement on the prior month, while below 50.0 indicate a decrease.

 

Although the latest data pointed to a slowdown in service sector outpot growth since January, survey respondents widely cited the negative influence of recent weather-related disruptions. Moreover, a robust increase in new business volumes and continued job hiring suggested that underlying demand remained resilient.

 

Survey respondents attributed increasing output to a further robust improvement in client demand, as highlighted by new business volumes again rising at a broadly similar pace to that seen in average in the final quarter of 2013.

 

More than half of the survey panel (51%) anticipate an increase in business activity over the next 12 months, while only 3% forecost a reduction.

 

Input price inflation eased for the sixth time in the past 7 months during February. Average proces charged by service providers also rose in February but at the slowest rate for fove months, with anecdotal evidence generally citing weaker cost pressures.

 

Mexican Business Web via Markit Economics

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Source: MarkitEconomics

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