S&P's services sample is reporting flattening activity, at a virtual breakeven 50.1 for the PMI which is down 1 tenth from September's flash and down 4 tenths from August. The result won't be affecting expectations for the ISM services index at the top of the hour which is expected to slow by a full point to a modest-to-moderate rate of monthly growth of 53.5.

Significant negatives for this sample and which hint at a sub-50 reading for October are the sharpest fall so far this year in new orders together with a steep draw in unfilled orders. The drop in orders, however, isn't yet holding down employment which gained in the month nor year-ahead expectations for output which are described as"strong".

Part of the decline in new orders is likely tied to a rise in selling prices as the sample tries to pass through higher costs which again rose at a"marked" pace in the month.

No change at the mid-month's 50.2, which would be down 3 tenths from August, is the call for the PMI services September final. No change from the mid-month 50.1 is also the call for the PMI composite, which is down from 50.2 in August.

US Services Purchasing Managers' Index (PMI) is based on monthly questionnaire surveys collected from over 400 U.S. companies which provide a leading indication of what is happening in the private sector services economy. It is seasonally adjusted and is calculated from seven components, including New Business, Employment and Business Expectations.

Investors need to keep their fingers on the pulse of the economy because it indicates how various types of investments will perform. The Markit Services PMI provides advance insight into the services sector, which gives investors a better understanding of business conditions and valuable information about the economic backdrop of various markets. The stock market likes to see healthy economic growth which generally translates to higher corporate profits. The bond market prefers less rapid growth and is extremely sensitive to whether the economy is growing too quickly and causing potential inflationary pressures. The PMI data are also used by many Central Banks to help make interest rate decisions.

The IHS Markit Services Flash data give a detailed look at the services sector, the pace of growth and the direction of this sector. Since the service sector accounts for more than three-quarters of U.S. GDP, this report has a significant influence on the markets. In addition, its sub-indexes provide a picture of new business, employment, business expectations and prices.