Wednesday, February 03, 2010
Service sector weaker, jobs growth up
Posted by David Smith at 10:00 AM
Category: Thoughts and responses

Swings and roundabouts. After a better than expected purchasing managers' index for manufacturing, ther service sector PMI slipped from 56.8 to a five-month low of 54.5. That is still above 50, so expanding, though at a slightly slower rate. But the blame is put squarely on the poor weather at the beginning of the month, so perhaps not too much to fret about.

The REC/KPMG report on jobs, also produced by Markit, was more upbeat. It said demand for staff grew at its fastest rate since July 2007.