US Business Activity Surges in May, Prices Climb
TL;DR Summary
U.S. business activity surged to its highest level in over two years in May, driven by the services sector, according to S&P Global's flash U.S. Composite PMI Output Index. However, manufacturers reported rising input prices, indicating potential future inflation. Despite increased business confidence, companies remain cautious due to uncertainties over inflation, interest rates, geopolitical issues, and the upcoming presidential election.
- US business activity quickens in May; price pressures building up Yahoo Finance
- Advanced Manufacturing PMI rose to 50.9 in May FXStreet
- US output grows at fastest rate for over two years in May Forex Factory
- Economy speeds up in May, S&P finds. Businesses optimistic. MarketWatch
- US Business Activity: S&P Global PMI Rises in May, Prices Pick Up Bloomberg
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