Editor's PiCK
U.S. May ISM Non-Manufacturing PMI at 49.9…“Below Expectations”
Son Min
Summary
- The U.S. May ISM Non-Manufacturing PMI was recorded at 49.9, below both the expected value and last month's figure.
- It was noted that a PMI below 50 means that more respondents expect economic contraction.
- Such figures are interpreted as a sign of slowing in the U.S. non-manufacturing sector.
The U.S. ISM Non-Manufacturing Purchasing Managers' Index (PMI) for May came in below expectations.
On the 4th (local time), the Institute for Supply Management (ISM) announced in its Non-Manufacturing PMI report that the U.S. PMI for May was 49.9, falling short of both the expected value (52.0) and last month’s figure (51.6).
ISM calculates the PMI index each month by surveying 4,000 companies across 20 industries to assess manufacturing sector conditions. A reading above 50 reflects a majority outlook of economic expansion, while a reading below 50 indicates more respondents expect economic contraction.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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