The US Economic Data Mixed Once Again

The IHS Markit Purchasing Managers’ Index (PMI) for the services sector fell to 51.2 in January, its lowest level in 18 months.

But the PMI remained above the 50 mark, indicating that the service sector in the U.S. is continuing to expand on the back of rising employment. Confidence in the corporate sector remains high.

The number of initial jobless claims fell to 238,000 last week, according to the Labor Department. But it still remains above 215,000, the weekly average before the coronavirus outbreak in the United States. In addition, it is reported that Americans’ continuing jobless claims fell by 44,000 to 1.63 million.

The ISM (Institute for Supply Management) Non-Manufacturing PMI fell to 59.9 in January from 62.3 in December.

Following a 1.8% increase in November, U.S. factory orders fell 0.4% in December, according to the U.S. Commerce Department.

Non-farm productivity increased by 6.6% in Q4. This is far above analysts’ expectations. In the last quarter, productivity declined by 5%.

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