Personal consumption of services is 45% of US GDP. Employment is strong and the service sector continues to be strong. S&P Global PMI report came in at an expansionary 51.4. Output rose for the 3rd straight month and at the sharpest rate since July. New orders rose at the fastest rate since June. This translated into employment clocking in at a 6th month high.Healthcare continues to be strong. And the financial sector had an uptick that coincides with the easing of financial conditions of the last 2 months.
More By This Author:Macro: Employment — ADP And Initial Claims — Strong Employment Continues Macro: Job Openings And Labor Turnover Macro: ISM Mfg PMI — 47.4
