031: ISM Service Report: A Game-changer for your Wallet? 08-03-23
Ever wonder how the uncelebrated ISM Service Report could impact your wallet? Well, curiosity is rewarded in this episode of Markets with Megan. Your host, Megan Horneman, is primed to illuminate the world of the service sector – an essential, yet often overlooked, part of our economy. Unpack the sector’s importance and learn about the resilience it has shown in recent months. From medical to financial services, cell phones to transportation, discover these expenses’ significant role in our daily lives.
In this episode, we dare to venture into the world of inflation, highlighting the jump in the price-paid component and backlog of orders. We also expose potential cracks in the labor market, with the employment component teetering on the brink of contraction. Megan, Chief Investment Officer for Verdence Capital Advisors, walks us through these developments, their potential implications for the Federal Reserve, and how they might echo in the upcoming employment report. Tune in for an in-depth analysis of economic data you won’t find elsewhere and be prepared to reach out with questions or thoughts – we’re all ears.
