finance
U.S. Manufacturing PMI Hits Four-Year High While Services Activity Slows
Preliminary May data showed U.S. manufacturing activity rising to a 48-month high while services activity fell to a two-month low. The mixed results follow weaker readings from Japan and Europe.
May 21, 9:54 AM·1m read1 source
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U.S. manufacturing activity rising to a 48-month high while services activity fell to a two-month low. S. 5 in April. S. 0 in April.
U.S. readings followed weaker data from Japan and Europe. Japan's services PMI hit its lowest level since March 2025. Europe's composite PMI reached its weakest level since late 2023.
Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, said the data reflected modest growth amid rising prices and job cuts. " Williamson added that firms' costs have jumped at a pace not seen since the 2022 energy price shock and are being passed on through higher selling prices.
The survey indicated that order book growth has slowed to its weakest level in two years over the past three months.
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