US: Service industry is slowly improving – Danske Bank

Danske Bank analysts point out that market optimism yesterday was supported by the US Service PMI that rose from 52.0 in November to 52.8 in December.

Key Quotes

“The composite PMI rose from 52.2 to 52.7. Service PMI also rose in the euro area to 52.8 from a preliminary 52.4. The numbers confirmed that the service industry is slowly improving in both the US and the euro area despite a still weak manufacturing sector. The numbers for the US support the view that the very weak ISM manufacturing released on Friday might have been an outlier.”