Reported 5 months ago
The US economy is performing better than expected, with the S&P Global's flash US composite PMI reaching a 2-year high of 54.4 in May, up from 51.3 in April. Both the services and manufacturing sectors are showing expansion, with services driving most of the gains for the composite index. Despite recent concerns of a slowdown, the US economic output is on track for solid GDP growth in the second quarter, according to S&P Global Market Intelligence chief business economist Chris Williamson. Input prices have also continued to rise, prompting worries about inflation and potential interest rate adjustments by the Federal Reserve.
Source: YAHOO