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🇺🇸 Behind the 53.6 services headline: a 7-point new orders drop and prices paid still at 70.7
The day in view

🇺🇸 Behind the 53.6 services headline: a 7-point new orders drop and prices paid still at 70.7

Macro Soup Newsroom Macro Soup Newsroom 3 min read

US ISM Services PMI held at 53.6 in April, but new orders collapsed 7.1 points to 53.5 as March's tariff front-loading unwound. Prices paid at 70.7 keeps the Fed on hold ahead of Thursday's CPI.

Line chart of total nonfarm job openings in thousands from 2000 to 2024, showing fluctuations over time with recession shading.
Job Openings: Total Nonfarm (monthly, Dec 2000 to Mar 2024).

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