Editor's PiCK
US June Services PMI Flash Estimate at 53.1…Exceeds Market Expectations
Son Min
Summary
- The US June Services PMI Flash Estimate was reported at 53.1, exceeding the market expectation of 52.9.
- This announcement is lower than last month’s final figure of 53.7, suggesting a possible contraction in the service sector.
- The PMI flash estimate is a leading indicator for quickly assessing economic conditions and serves as a useful reference for investment.
The flash estimate for the United States' June Services Purchasing Managers' Index (PMI) exceeded market expectations.
According to the PMI report released by S&P Global on the 23rd (local time), the final value of the US Services PMI for June was 53.1, surpassing the market expectation of 52.9.
The announced services PMI index was lower than last month's final figure of 53.7, suggesting that the US service sector may have contracted compared to May.
Meanwhile, PMI uses 50 as the baseline to gauge whether the service sector is expanding or contracting.
The PMI flash estimate is released ahead of the month's final PMI figure and can be used as an indicator for quickly assessing economic conditions.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit!["Will AI take our jobs?" Fear spreads…market rattled by a plunge in shares [New York Market Briefing]](https://media.bloomingbit.io/PROD/news/874408f1-9479-48bb-a255-59db87b321bd.webp?w=250)
