ING
US service sector remains robust, but hiring weakness persists
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https://think.ing.com/snaps/us-service-sector-remains-robust-but-hiring-weakness-persists/
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4 itemsING THINK
US service sector remains robust, but hiring weakness persists
The desk argues that while the US service sector remains robust, as illustrated by the ISM services index, concerns about weak hiring persist, influencing market expectations for future Federal Reserve rate hikes. The report from ING indicates business activity remains elevated, with the ISM index reflecting a 2.5% GDP growth trajectory. However, employment metrics fell below neutral, highlighting a paradox of rising activity against a backdrop of hiring hesitance, a nuanced dynamic discussed in detail in the original commentary [source].
DESK NOTEING Economics
Surprise US job weakness casts serious doubt on Fed rate hikes
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