Final U.S. services-sector reading from IHS Markit shows modest February dip
The Institute for Supply Management’s survey of senior executives at banks, retailers, restaurants and the like rose to 59.7% last month from 56.7% in January. The January reading was the weakest since last summer.
Numbers over 50% are viewed as positive for the economy, and anything over 55% is considered exceptional. Economists polled by MarketWatch predict gross domestic product will taper to 1.5% in the first quarter from 2.6% in the final three months of 2018. What they are saying?: “We are anxiously awaiting decisions in the next couple of weeks on the fate of the proposed tariffs on China,” said an executive at restaurant chain.
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