US March prelim Markit services PMI 52.9 vs 54.0 expected

• Prior was 53.8
• Manufacturing PMI 53.4 vs 54.8 expected
• Prior manufacturing was 54.2
• Composite index 53.2 vs 54.1 prior

A few highlights of the details:

• Manufacturing index at lowest since October
• Employment component of the manufacturing index at lowest since August
• Manufacturing output 54.4 vs 55.6 prior
• Services new business index at lowest since 51.8 vs 53.6 prior
• Composite new orders 52.4 vs 54.1 prior

The one idea that's getting a bit of traction is that businesses are optimistic after Trump and