Markit services and manufacturing PMI for March
- Prior was 53.8
- Manufacturing PMI 53.4 vs 54.8 expected
- Prior manufacturing was 54.2
- Composite index 53.2 vs 54.1 prior
A few highlights of the details:
- Manufacturing index at lowest since October
- Employment component of the manufacturing index at lowest since August
- Manufacturing output 54.4 vs 55.6 prior
- Services new business index at lowest since 51.8 vs 53.6 prior
- Composite new orders 52.4 vs 54.1 prior
The one idea that's getting a bit of traction is that businesses are optimistic after Trump and the election but before they invest, they want to see the legislation. Given some of the tumult around Obamacare, they might feel even more inclined to wait and see.