Reported 5 months ago
The US S&P Global Composite Purchasing Managers Index for May reached its highest level in two years at 54.4, driven by continued manufacturing growth while the labor market is experiencing some hiring pullbacks. S&P Global Market Intelligence Chief Business Economist Chris Williamson notes that service sector hiring is slowing while manufacturing is picking up, resulting in an overall picture of a job market that is slowing but not collapsing. This balance may impact pay pressures, inflation, and consumer spending, highlighting the need for a delicate economic balance.
Source: YAHOO