US composite PMI rises in May - Breaking The News

US composite PMI rises in May

5 June

1 min read

EPA-EFE/CJ GUNTHER

The United States Composite PMI Output Index came in at 54.5 in May, jumping "sharply" from 51.3 recorded in the month prior, data from S&P Global showed on Wednesday.

The US Services PMI Business Activity Index rose to 54.8 in the reported month, compared to 51.3 registered in April, standing at a one-year high. "Growth accelerated across both the manufacturing and service sectors," it was specified in the report.

"Coming on the back of a similar acceleration in the manufacturing sector, the data suggest a healthy pace of expansion in the US private sector approaching the midway point of the year," Economics Director at S&P Global Market Intelligence Andrew Harker commented.

data pmi composite

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