FX.co ★ US S&P Global Services PMI Edges Down in May, Signals Slower Expansion

The U.S. services sector lost a touch of momentum in May, as the S&P Global Services PMI slipped to 50.7 from 50.9 previously, according to data updated on 3 June 2026. While still above the 50.0 threshold that separates expansion from contraction, the marginal decline points to a softer pace of growth in the world’s largest services-driven economy.

The unchanged month reference for both readings in May 2026 underscores how narrowly the index is hovering above stagnation levels. Even a modest easing from 50.9 to 50.7 suggests that activity is expanding, but only slightly, highlighting persistent fragility in demand and cautious business conditions across key service industries.