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Friday, June 4, 2021

May U.S. PMI Composite revised higher, beating consensus, ISM non-manufacturing index exceeds expectations

  • May U.S. PMI Composite (Final): 68.7 vs. 68.1 consensus and 68.1 prior.
  • Signals steepest upturn in business activity since data collection began in October 2009.
  • The overall upturn was supported by a sharper expansion in new business. Rates of growth were the fastest on record in both the manufacturing and service sectors, IHS Markit said.
  • Services PMI: 70.4 vs. 70.1 consensus and 70.1 prior.
  • Inflationary pressures increased in May. As a result, firms tried to pass on the higher costs to clients, with the pace of charge inflation rising to a new series high.
  • Rate of job creation softened from April as firms were challenged in finding suitable job candidates.
  • May ISM Non-Manufacturing Index: 64 vs. 63 consensus, 62.7 prior.
  • Business activity 66.2 vs. 67.2 consensus, 62.7 prior.
  • Employment 55.3 vs. 58.8 prior.
  • New order 63.9 vs. 63.2 prior.
  • Prices 80.6 vs. 76.8 prior.

 

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