Here comes ISM services PMI ...
Sarah Jacobs
Economists forecast that the purchasing manager's index slipped to 55 from 55.5 in July, according to Bloomberg. The index would still be above 50, indicating that the service sector remained in expansion.
The service sector, which includes occupations ranging from teaching to therapy, accounts for most of the US economy's growth and job creation.
Markit Economics released its monthly report on Saturday, which showed that business activity slowed to a six-month low in August. The headline PMI dropped to 51 from 51.4.
Employment grew at the weakest pace since December 2014, and survey respondents told Markit that client demand for their services was quite subdued.
Because Markit and ISM don't necessarily talk to all of the same people or use the same survey methods, the results of their indexes often differ.
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