PMI: Markit gauge of U.S. services sector falls to record low in April
The numbers: The IHS Market flash purchasing managers index for services in April fell to a record low, while the manufacturing PMI weakened to the lowest level in 11 years.
Any reading below 50 indicates worsening conditions. The “flash” reading is based on approximately 85% of the final number of replies received each month. Overseas readings were also terrible. The flash eurozone services PMI slumped to a record low 11.7 in April, with Germany’s services PMI skidding to 15.9.
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Flash eurozone services PMI slumps to record low 11.7 in AprilThe IHS Markit flash eurozone services purchasing managers index in April skidded to a record low of 11.7 from 26.4 in March, while the manufacturing PMI...
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