"While #tariff announcements mean #manufacturing dominates the news, a worrying backstory is developing in the vastly larger #services #economy, where #business activity and #hiring have come closer to stalling in April amid plunging business #confidence," said Chris Williamson, chief business #economist at S&P Global Market Intelligence."
#premarket
"The bottom line from the services sector is a heightened risk of stalling growth and rising #inflation, or #stagflation."
https://seekingalpha.com/news/4440975-us-pmi-composite-falls-more-than-expected-in-final-april-print