BreakingNews
US Private Sector Activity Surges in May!
S&P Global Flash PMI Data (May):
➤ Composite PMI: 52.1 (↑ from 50.6)
➤ Manufacturing PMI: 52.3 (↑ from 50.2)
➤ Services PMI: 52.3 (↑ from 50.8)
What it means:
• Business activity accelerates across the private sector
• Confidence rebounds after April’s slump
• Input inflation sees sharpest rise since Aug 2022
Expert Take:
Chris Williamson, Chief Business Economist at S&P Global, says:
> “Business confidence has improved… optimism is returning thanks to the pause in rate hikes.”
Market Reaction:
• USD Index (DXY) rises +0.15% to 99.85
• EUR/USD holds near 3-year highs, past 1.1500
• Markets still expect a Fed rate cut in September (25bps)
Investor Watchlist:
• Rising inflation could delay Fed cuts
• A stronger USD may pressure global currencies
• Stay tuned for the Fed’s June Summary of Projections
S&P Global PMI = Key Early Indicator
Readings above 50 = Expansion | Below 50 = Contraction
Data reflects trends in output, hiring, inventories & prices.
