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US: Muted increase in business activity as optimism falters and employment falls solidly
May’s S&P Global PMI survey of US private sector companies signaled a slower, and only marginal expansion of business activity. Softer growth was linked to the impact of rising prices, notably for fuel and energy, which also stunted growth in new business intakes. Sentiment regarding the outlook softened to the lowest since October 2022, which service providers often linked to uncertainty regarding inflation and economic recovery. A more downbeat outlook discouraged hiring at service providers, as staffing levels fell at the steepest rate since May 2020. On the price front, cost pressures remained historically ... (full story)
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- Jun 3, 8:46am | 10 hr ago Posted by
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