Following a solid European release in the morning, the time has come for the US PMI indices for December. Just as it was the case in terms of European PMIs, report showed a beat in the manufacturing sector. However, services reading turned out to be weaker than expected.
- Manufacturing PMI: 56.5. Expected: 55.8
- Services PMI: 55.3. Expected: 55.8
- Composite PMI: 55.7
A point to note is that both sectors weakened compared to November's reading, when manufacturing PMI came in at 56.7 and services PMI reached 58.4. On the other hand, both sectors are still in expansion territory, contrary to Europe as most of the countries from the Old Continent still experience contraction in services.
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US500 ticked higher on the US PMI data release after it experienced some selling following the start of Wall Street cash trading. Source: xStation5
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