Flash PMI Data Signals Steep Acceleration Of U.S. Growth Midway Through Second Quarter
==========
The US economic upturn accelerated again in May after two months of slower growth, with the early PMI data signaling the fastest expansion for just over two years. US business activity growth accelerated sharply to its fastest for just over two years in May, according to provisional PMI survey data from S&P Global, signaling an improved economic performance midway through the second quarter. Employment fell for a second successive month in May, contrasting with the continual hiring trend seen over the prior 45 months. The headline S&P Global Flash US PMI Composite Output Index rose sharply from 51.3 in April to 54.4 in May, its highest since April 2022. Optimism about output in the year ahead lifted higher in both manufacturing and services in response to brighter business prospects, the latter in turn often linked to expansion plans, new products, and increased marketing. Employment fell for a second successive month in May, contrasting with the continual hiring trend seen over the prior 45 months. Input prices continued to rise sharply in May, with the rate of inflation accelerating to register the second-largest monthly increase seen over the past eight months. The PMI's selling price index provides a useful insight into inflation trends in the coming months, tending to act with a lead on consumer price data.
#UsEconomy #PmiData #EconomicGrowth #BusinessActivity #Employment #Inflation
https://seekingalpha.com/article/4695798-flash-pmi-data-signals-steep-acceleration-us-growth-midway-second-quarter
Seeking Alpha /
npub1qpf…damf
2024-05-27 11:12:38
Author Public Key
npub1qpfrthtcf6g8grmwfv45qf28aa4xqk73pgnmwjdfuze8zl2l2cnsewdamfPublished at
2024-05-27 11:12:38Event JSON
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"content": "Flash PMI Data Signals Steep Acceleration Of U.S. Growth Midway Through Second Quarter\n==========\n\nThe US economic upturn accelerated again in May after two months of slower growth, with the early PMI data signaling the fastest expansion for just over two years. US business activity growth accelerated sharply to its fastest for just over two years in May, according to provisional PMI survey data from S\u0026P Global, signaling an improved economic performance midway through the second quarter. Employment fell for a second successive month in May, contrasting with the continual hiring trend seen over the prior 45 months. The headline S\u0026P Global Flash US PMI Composite Output Index rose sharply from 51.3 in April to 54.4 in May, its highest since April 2022. Optimism about output in the year ahead lifted higher in both manufacturing and services in response to brighter business prospects, the latter in turn often linked to expansion plans, new products, and increased marketing. Employment fell for a second successive month in May, contrasting with the continual hiring trend seen over the prior 45 months. Input prices continued to rise sharply in May, with the rate of inflation accelerating to register the second-largest monthly increase seen over the past eight months. The PMI's selling price index provides a useful insight into inflation trends in the coming months, tending to act with a lead on consumer price data.\n\n#UsEconomy #PmiData #EconomicGrowth #BusinessActivity #Employment #Inflation\n\nhttps://seekingalpha.com/article/4695798-flash-pmi-data-signals-steep-acceleration-us-growth-midway-second-quarter",
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