Markit May prelim US services PMI 70.1 vs 64.4 expected
Fri 21 May 2021 13:45:03 GMT
Record highs in services, manufacturing and composite (series began in 2009)
Prior was 64.7
Services new orders hit a record
Services input prices hit a record
Manufacturing new orders hit a record
Manufacturing order backlogs hit a record
Manufacturing business confidence hit a seven-month low on capacity and raw materials shortages
That's a huge beat on an important forward-looking indicator and wipes away some of the uneasy that's been in markets since the US jobs report.
Commenting on the PMI data, Chris Williamson,
Chief Business Economist at IHS Markit, said:
"The US economy saw a spectacular acceleration of