Reported about 10 hours ago
The U.S. services sector showed improved growth in April, with a rise in orders leading to increased price pressures, reaching the highest levels in over two years. The Institute for Supply Management reported a jump in the nonmanufacturing purchasing managers index (PMI) to 51.6, surpassing expectations. While the overall economy faces challenges from tariffs and a contraction in GDP, the survey signals resilience with solid job growth and a notable increase in prices paid for inputs, hinting at potential inflation issues in the coming months.
Source: YAHOO