finance
U.S. S&P Global PMI Data Shows Manufacturing Strength in May
U.S. manufacturing activity expanded more than expected in May while services activity eased slightly below forecasts. The composite reading held steady near the prior month.
May 21, 9:46 AM·1m read3 sources
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U.S. manufacturing activity expanded in May at a faster pace than analysts had projected. The S&P Global Manufacturing PMI rose to 55.3 from 54.5 in April, according to data released on the current date. Economists had forecast a reading of 53.8.
Services activity came in slightly below expectations.
The overall composite PMI remained essentially unchanged.
The data provide a snapshot of business conditions across both manufacturing and services sectors at the start of the second quarter.
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