FX.co ★ US Business Activity Accelerates in May: S&P Global

The S&P Global US Composite PMI for May 2025 has been adjusted upwards to 53.0, surpassing the initial estimate of 52.1 and significantly improving from the 19-month low of 50.6 recorded in April. This uptick was primarily fueled by heightened activity within the services sector, which effectively counterbalanced a slight decrease in manufacturing output. Both sectors experienced an increase in new business, culminating in a more rapid growth rate compared to the previous month. Employment figures continued to rise for the third month in a row, while business confidence soared to its highest point since January. Nevertheless, recently introduced tariffs have led to a significant rise in both input costs and inflation of output prices.