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October 27, 2021

The Services PMI improved in October which could be an early indication that the rate of change in economic growth will likely accelerate in the fourth quarter.

Early this month, we suggested that economic data in the fourth quarter would likely increase compared to the third quarter.  A major contributor to that viewpoint was the expectation that services data would improve.  Last week, the Markit Flash PMI report provided the first piece of evidence that this is occurring.  In the IHS Markit...
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