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US Services PMI Crashes To 2-Year Lows, Signals GDP Slump

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CougarCougar
The market, "LaLaLa, I can't hear you !" 4/18/19
AvocetAvocet
Prior Consensus Consensus Range Actual 
Services — Level 54.8 55.0 52.6 to 56.0 52.9  
Weakness is where strength used to be centered in this report, and that's in services where growth apparently is slowing abruptly this month, at a diffusion index of 52.9 which is well under Econoday's 55.0 consensus though still within the consensus range. This is the lowest score since March 2017 and reflects the slowest rate of order growth in two years. 
Services make up the bulk of U.S. economic activity and is reflected in its oversized weighting for the composite which comes in so far this month at 52.8. This is slowest showing since September 2016. 4/18/19
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