US economic data released today presents a complex picture of the rising S&P composite PMI in September. 53.9 and Service PMI Mountaineering 54.2indicating the expansion of the service sector above the 50 threshold to separate growth from contraction.
Stronger than expected S&P measures suggest resilient economic activity in major services industries despite continuing concerns about the broader economic momentum.
The market is analyzing these figures alongside the Federal Reserve policy signals as traders assess the health of the U.S. economy following rate cuts last month.
However, ISM’s non-manufactured PMI tells a different story, falling to 50.0 in September, missing out on the 51.8 forecast.
The decline to neutral 50 levels indicates that the service sector is shaking between expansion and contraction, raising questions about the sustainability of economic growth heading into the fourth quarter.
The divergence between the two major PMI measures has created uncertainty in the market as investors better reflect the current economic situation and consider what this will mean for future Federal Reserve policy decisions. Bitcoin Price Trajectory.
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