Is This the Beginning of the Second Wave of Inflation?

by Wolf Richter
Wolf Street

Companies can’t pass on those higher prices? What a bummer. But if they can without losing sales, it’s off to the races. See 2021/2022.

Nearly every subindex of today’s ISM Services PMI grew in February, and many accelerated further from the January pace of growth. Among those that accelerated further: The overall Services PMI and the indexes for employment, new orders, and prices.

And so, the services economy, which dominates the US economy, grew in February at a decent clip, according to the report.

The index that declined at an accelerating pace were imports. And that would be a good thing.

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