US Markit April prelim services PMI 27.0 vs 31.5 expected

Markit US flash PMIs for April 2020

• Prior was 39.8
• Manufacturing 36.9 vs 38.0 expected
• Prior manufacturing was 48.5
• Composite PMI 27.4 vs 40.9 prior

Selected details:

• Services new business 26.9 vs 40.0 prior
• Manufacturing new orders 28.6 vs 45.7 prior
• Composite decline was sharpest since Oct 2008