January 2019 ISM And Markit Services Indices Decline

The ISM non-manufacturing (aka ISM Services) index and the Markit PMI Services Index continued their growth cycle but declined.

Analyst Opinion of the ISM and Markit Services Survey

Both services surveys are in expansion - but declined this month.

From Econoday:

(Click on image to enlarge)

From Markit: 

Joint-weakest rise in new business since October 2017

  • Rate of new order growth matches December's recent low
  • Activity expansion softest in four months
  • Price pressures ease to 22-month low
  • January data signalled a further upturn in business activity across the service sector. The rise in output was the slowest for four months, amid one of the softest increases in new business seen for more than a year. Although only fractional, new export orders fell for the second successive month. In line with a slower rise in new business, employment growth eased to the second-weakest since June 2017. However, firms registered a stronger degree of confidence towards business activity levels over the coming 12 months.
  • The seasonally adjusted final IHS Markit U.S. Services Business Activity Index registered 54.2 in January, down slightly from 54.4 in December. Anecdotal evidence linked the solid rise in business activity to a sustained increase in new orders and greater client demand. That said, the rate of expansion was the softest for four months and weaker than both the series trend and the average seen in 2018

    (Click on image to enlarge)

From the ISM Services report: 

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