US Services PMI at 54.8

The US Services Purchasing Managers’ Index (PMI) recorded a score of 54.8, indicating continued growth in the services sector. This figure reflects a robust expansion as it remains above the neutral mark of 50, suggesting that businesses are confident in economic conditions.

Insights from Rick Santelli

Rick Santelli provided analysis on the recent economic data, emphasizing the significance of the Services PMI. He noted that the reading supports a positive outlook for the economy, as service-oriented industries remain a key driver of growth in the current market landscape.