May Preliminary S&P Global US Services PMI Exceeds Expectations

May Preliminary PMI Data

• 📊 The S&P Global US PMIs for May showed stronger-than-expected results across manufacturing, services, and composite indices.
• 📈 These are preliminary readings, with final data to be released in a couple of weeks.

Manufacturing PMI Performance

• 🏭 The manufacturing PMI came in at 52.3, an increase from 50.2 sequentially.
• 🚀 This marks the best level since February and the second-best reading of the year.
• ✅ It is the fifth consecutive reading above 50, indicating expansion.

Services PMI Performance

• 💬 The services PMI reached 52.3, up from 50.8 sequentially.
• 🌟 This is the highest level seen since March, when it was 54.1.
• 📌 The services sector has now shown 28 consecutive readings above 50.

Composite PMI and Market Reaction

• 🧮 The composite PMI stood at 52.1, higher than the previous 50.6.
• 🔗 This is also the 28th consecutive reading above 50 and comparable to March's levels.
• 📉 Interest rates saw a slight climb following the release of these economic indicators.