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Purchasing Manager's Index - Services February 2016

03-03-2016 08:30

Services PMI fell to 55.8 in February: Steady service activity

The purchasing managers’ index for the service sector (Services PMI) decreased from 59.3 to 55.8 in February. The decline was driven by lower growth rates for new orders and business volumes, while employment had a neutral contribution to the Services PMI.
The sub-index for new orders fell from 63.2 in January to 56.7 in February, contributing negatively to the Services PMI by 2.3 points. At the same time the index for order backlogs retreated to 50.1 in February, down 4.2 points from the previous month. New orders and order backlogs have both been in the growth zone for a halfyear.
The sub-index for business volumes fell to 56.4 in February from 62.2 in January. The three-month moving average, which has fluctuated around 60 for some time, is signaling that business volumes are in a strong phase. This is consistent with upbeat business plans and continued growth in employment. The index for planned business volumes (63.4) and the employment sub-index (55.4) were in the growth zone even though both indices fell from January.
Prices of suppliers’ intermediate goods fell for the second consecutive month and the index reached 49.2, compared with 48.7 in January. In addition, the trend continues to point downward.
  • The purchasing managers’ index for the service sector (Services PMI) decreased from 59.3 to 55.8 in February. The decline was driven by lower growth rates for new orders and business volumes, while employment had a neutral contribution to the Services PMI.

  • The sub-index for new orders fell from 63.2 in January to 56.7 in February, contributing negatively to the Services PMI by 2.3 points. At the same time the index for order backlogs retreated to 50.1 in February, down 4.2 points from the previous month. New orders and order backlogs have both been in the growth zone for a halfyear.

  • The sub-index for business volumes fell to 56.4 in February from 62.2 in January. The three-month moving average, which has fluctuated around 60 for some time, is signaling that business volumes are in a strong phase. This is consistent with upbeat business plans and continued growth in employment. The index for planned business volumes (63.4) and the employment sub-index (55.4) were in the growth zone even though both indices fell from January.

  • Prices of suppliers’ intermediate goods fell for the second consecutive month and the index reached 49.2, compared with 48.7 in January. In addition, the trend continues to point downward.


PMI Services- February 2016

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