Thursday, February 03, 2011
Strong services completes January rebound
Posted by David Smith at 09:45 AM
Category: Thoughts and responses

After good results from both the manufacturing and construction purchasing managers' surveys, the service sector purchasing managersí index completed the story, rebounding from 49.7 in December to 54.5 in January. This was an eight-month high for the sector.

Markit, which prepares the data for the Chartered Institute of Purchasing and Supply, is cautious about reading too much into the data, which is says are consistent with quarterly growth of about 0.4%. Even so, it is a lot better than minus 0.5%.