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QQEW - Inflation Pressures Heat Up Even In Services
First Trust NASDAQ-100 Equal Weighted Index Fund
The ISM's index for prices at 64.2 was down 0.2 percentage points from December (seasonally adjusted), indicating that prices increased but at a slightly slower rate than in December.
Of the 18 service industries in the ISM index, 16 reported price increases in January, compared to December, and two industries reported no change.
What the services PMIs are telling us is that there are price pressures now building up even in services though the services sector overall is far from having recovered, and in many aspects of services, demand remains weak.