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Services Sector Contraction In March Screams Q1 Stagflation
Services Sector Contraction In March Screams Q1 Stagflation
Following S&P Global's Manufacturing PMI's better than expected print higher (signaling resilience in the face of March's war in Iran), the data released this morning showed the US Services Sector experienced a contraction of activity at the end of the first quarter of 2026.
The headline S&P Global US Services PMI Business Activity Index recorded 49.8 in March, down from February’s 51.7 and lower than the earlier ‘flash’ estimate of 51.1.
It was the first decline recorded in over three years amid the weakest...
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Authored by Tilak Doshi via Tilak’s Substack,
The Financial Times reported on Good Friday that “more than 65 leading UK scientists” had signed an open letter, published as a Google Doc, urging the Government to abandon new North Sea oil and gas drilling in favour of renewables.
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