Services Surveys Signal Stagflation Threat Growing: Slowing Growth, Sticky Inflation
August 03, 2023 at 10:06 AM EDT
Following yesterday’s dismal Manufacturing survey data (both in contraction – sub-50 – for multiple months), ‘soft landing’-hopers are banking on this morning’s Services survey data to save the narrative. ISM Services (Final) dropped to 52.3 (below exp) in July (from 54.4 in June) – its lowest since Feb. PMI Services dropped to 52.7 (below exp) […] Source
