The flash reading for the April Markit manufacturing PMI
– Prior was 53.3
– Services PMI 52.5 vs 53.2 exp (lowest since Sept)
– Prior services PMI 52.8
– Composite PMI 52.7 vs 53.0 prior
This is a touch on the weak side, which goes against yesterday’s stronger Philly Fed. That said, the Richmond, Dallas and KC surveys were all weaker than the priors so it’s not a big surprise.
