Markit Flash Services PMI Comes In A Bit Light

Markit’s flash US services PMI came in at 58.5.

Expectations were for the reading to come in at 59.2, down slightly from last month’s 59.5 reading.

The latest report from Markit said, “A further strong increase in business activity reflected steep and accelerated growth of incoming new work in September. The latest rise in new business volumes was the sharpest since June and one of the fastest seen over the five-year survey history.”

This report follows Markit’s flash manufacturing PMI earlier this week, which showed manufacturing activity in the US remains strong.

This chart from Markit shows the trend in services PMI over the last five years.

More to come…

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.