The ISM services survey will provide little comfort for Fed officials, with the prices paid index edging up again despite weakness in the activity and employment indices. Nonetheless, given the recent strength of the hard activity data and the more positive message from alternative business surveys, our sense is that the ISM surveys are understating economic growth.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services