Editor's PiCK
US May Services and Manufacturing PMI Flash Exceeds Market Expectations
Summary
- The US May services and manufacturing PMI flash readings exceeded expectations, continuing the economic expansion phase.
- The manufacturing PMI flash announced by S&P Global was 52.3, surpassing Wall Street's expectation of 49.9.
- The services Purchasing Managers' Index also exceeded expectations at 52.3, playing an important role in quickly analyzing the economic situation.
The United States' May services and manufacturing Purchasing Managers' Index (PMI) flash readings exceeded expectations, continuing the expansion phase.
On the 22nd (local time), S&P Global announced that the manufacturing PMI flash reading was 52.3, surpassing Wall Street's expectation of 49.9. The services PMI flash reading, announced at the same time, also exceeded expectations at 52.3 compared to the expected 51.
The Purchasing Managers' Index (PMI) uses 50 as a baseline to gauge whether the economy is expanding or contracting. A PMI above 50 indicates economic expansion, while below 50 indicates contraction.
The PMI flash reading is released before the final PMI at the end of the month and is used as an indicator to quickly assess the economic situation.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
![[Market] Bitcoin falls below $71,000…Lowest level since October 2024](https://media.bloomingbit.io/PROD/news/0e5880b9-61dd-49d4-9d2e-c47a3fb33a93.webp?w=250)
