/PRNewswire/ Economic activity in the services sector grew in May for the 12th month in a row, say the nation s purchasing and supply executives in the.
May 2021 ISM and Markit Services Surveys Improve And Remain Well Into Expansion
The ISM improved and remained in expansion whilst the Markit PMI improved and now is at record highs.
Analyst Opinion of the ISM and Markit Services Survey
With the economy reopening, it comes as no surprise that both of these indices are well into expansion.
From Econoday:
Stronger client demand spurs sharper output expansion
Cost burdens rise at quickest pace on record
Further steep increase in employment despite hiring
May PMI™ data indicated the fastest rise in business activity since data collection for the series began in October 2009. The unprecedented expansion in output was supported by a marked increase in new business, in turn buoyed by the quickest rise in new export orders for nine months. Greater business requirements resulted in a further sharp rise in employment. That said, the pace of job creation softened as firms reported difficulties filling vacancies. Strain on capacity was
Provided by Dow Jones By Xavier Fontdegloria The expansion pace of U.S. manufacturing activity hit a record-high in May for the second straight month supported by stronger expansions in output and new orders, data from IHS Markit showed Tuesday. The final reading for the U.S. Manufacturing Business Activity PMI Index for May came in at 62.1, a fresh record-high, up from the preliminary reading of 61.5 and exceeding the 60.5 recorded in April. The reading beats expectations from economists polled by The Wall Street Journal, who expected the PMI to come in at 61.5. May s PMI signals that expansion pace of factory activity further increased compared with that of April. The indicator has been above the 50-point level that separates expansion from contraction since July 2020.
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