Summary
- The US November Services Purchasing Managers' Index (PMI) was reported to be 56.1, falling short of the expected 57.0.
- Similarly, the Composite Purchasing Managers' Index announced at the same time was 54.9, not meeting expectations.
- PMI uses 50 as the baseline to determine economic expansion, indicating expansion above 50.
The US November Services Purchasing Managers' Index (PMI) fell short of expectations.
On the 4th (local time), the Services Purchasing Managers' Index announced by S&P Global was 56.1, falling short of the expected 57.0. Similarly, the Composite Purchasing Managers' Index announced at the same time was 54.9, also below expectations (55.3). Although the asset market has been recording significant upward trends since the Trump election, the actual economic indicators such as the service industry and employment indicators are not as good as expected.
The Purchasing Managers' Index (PMI) uses 50 as the baseline to determine economic expansion or contraction. A PMI above 50 indicates economic expansion, while below 50 indicates economic contraction.
YM Lee
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