US: Mixed signals about service sector activity – Danske Bank

Danske Bank analysts note that the US ISM non-manufacturing rose to 54.7 from 52.6 and more than the 53.5 expected by consensus.

Key Quotes

“In addition, both the employment and new order sub-indices recovered. Meanwhile, the Markit US service PMI for October was revised down to 50.6 - a new cycle low and the composite PMI was revised down to 50.9. Hence, the two leading indicators sent somewhat mixed signals about activity in the US service sector.”