U.S. flash PMI index falls in March, but output growth remains strong
Source: FxWire Pro - Commentary / 22 Mar 2018 17:21:08 Eastern Standard Time
The seasonally adjusted IHS Markit Flash Services PMI Business Activity Index for the U.S. fell in the month of March. The index dropped from February’s six-month high of 55.9 to 54.1 However, the latest reading is well above the neutral value, hinting at a strong growth of the service sector output.
Service providers saw another solid rise in new business in March, with the pace of growth holding close to February’s near three-year high. Greater workloads aided in supporting the strongest job creation since September 2015.
March data indicated towards a strong rise in average cost burdens, although the pace of inflation was weaker than the 32-month peak seen in February. Mirroring the trend for operating expenses, average prices charged by service sector firms rose at a bit slower pace than in the earlier month.
At 21:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was neutral at 34.7761. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex
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