Loading ...US Services PMI Tumbles, Misses By Most On Record “Dealing Blow To Q2 Rebound Hopes”
After a brief dead cat bounce, the US services economy has tumbled back to 3-month (near 7 year) lows, missing expectations by the most on record. With the slowest pace of hiring since Dec 2014 (signalling a mere 128k rise in payrolls for May), business optimism plunged to record lows (since the survey began in Oct 2009).
When hope fades…