PMI Reports Beat Analyst Estimates
On March 24, S&P 500 Global released the flash readings of PMI reports for March. Manufacturing PMI increased from 47.3 in February to 49.3 in March, compared to analyst consensus of 47. Services PMI improved from 50.6 to 53.8, compared to analyst consensus of 50.5. Numbers above 50 show expansion.
PMI numbers are rising for the third month in a row, and it looks that the bottom was reached in December. However, traders will stay focused on the developments in the banking sector, which may put additional pressure on the economy.
According to recent reports, U.S. Treasury Secretary Janet Yellen was convening a private meeting of financial stability oversight council on Friday morning. It remains to be seen whether…
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