Latest ‘flash’ PMI™ data from S&P Global indicated a slower expansion in business activity across the US private sector during May. Manufacturers and service providers signalled softer upturns in output amid elevated inflationary pressures, a further deterioration in supplier delivery times and weaker demand growth. The headline Flash US PMI Composite Output Index registered 53.8 in May, down from 56.0 in April, to signal a weakened rate of expansion of output across private sector firms. The rate of growth was the softest for four months, with the index now below the series long-run average of 54.8. At the same ... (full story)