US S&P Global Manufacturing PMI Flash (May) 55.3 vs. Exp. 53.8 (Prev. 54.5, Low. 53.2, High. 55)
- "May PMI indicates that the economy will struggle to manage annualised GDP growth of much more than 1% in the second quarter. However, even this subdued pace of growth may not last."
- "Demand also looks set to cool further in response to rising prices. Firms’ costs have jumped higher at a pace not seen since the energy price shock of 2022 and are being passed on to customers in the form of sharply higher selling prices."
- "The survey price gauges therefore indicate that inflation looks set to rise further just as the economy cools.”
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