The index US Markit services PMI rose nearly six points in May, the month that marked its fifth consecutive month of increases. The indicator reached 70.4 points, a new historical maximum, surpassing the 64.7 in April and the 70.1 expected by the market.
The Integrated PMI has increased to 68.7, its maximum level since this data began to be collected, in 2009. The result improves the 63.5 points in April and the 68.1 estimated by the experts.
According IHS Markit, the higher demand from customers has stimulated further expansion of production, also seeing a strong increase in employment despite hiring. On the other hand, the cost burden is increasing at the fastest rate on record.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
