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BREAKING: US services PMI lower than expected! Suprising beat of manufacturing data!

2:46 PM 24 July 2023
  • Industrial: Actual: 49.0; Expectations 46.4; Previously 46.3
  • Service:Actual: 52.4; Expectations 54; Previously 54.4
  • Compared to reading from European countries, US data comes slightly better. 
  • PMI analysts indicate that the overall rate of output growth, measured across manufacturing and services, is consistent with GDP expanding at an annualized quarterly rate of approximately 1.5% at the start of the third quarter. That's down from a 2% pace signalled by the survey in the second quarter.
  • The EURUSD is relatively unmoved shortly after US PMI data release. 

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