Weakness in manufacturing, at 52.5, is being offset this month by strength in services, at a very strong score of 56.9. The two make for a PMI composite of 56.0. New orders for the services sample are at a 2-year high with hiring also very strong. Input costs for service providers are up as are, in especially positive news, selling prices which are at a nearly 3-year high.
Selling prices for manufacturers are also higher this month with input costs also up. Order growth, however, is slowing as is production. Inventory build is also slowing.
These results are mixed with the slowdown in manufacturing a concern especially following last week's surprise dip in manufacturing production.