Service Sector Spotlight: Key Indicators from ISM Services Report | Episode 108 | 03-05-2024
In this episode of Markets with Megan, Megan Horneman, Chief Investment Officer at Verdence Capital Advisors, looks into the recently released ISM Services Report for February. Despite a slight slip in the index, it has remained in expansion territory for 14 consecutive months. Megan breaks down key aspects, such as the decline in prices paid, indicating a positive trend for inflation, and the noteworthy improvement in business activity and new orders. However, she notes a mixed bag of results, highlighting weakened components like employment, new export orders, and new import orders.
Megan emphasizes the Federal Reserve’s scrutiny of this report and its relevance in the broader economic context. Looking ahead, she previews upcoming events, including Jerome Powell’s congressional testimony and the eagerly anticipated employment report. Stay tuned for more updates and analysis on the evolving economic landscape. For further questions or comments, reach out to podcast at Verdence dot com.
