The U.S. Markit services, manufacturing, and composite PMIs all hit record highs in May. This underscores the steady demand in the market, while exacerbating future inflationary pressures in the US.
Data show that the U.S. May Markit composite PMI preliminary value of 63.5 from the previous month soared to 68.1, the highest level since 2009.
The preliminary value of the manufacturing PMI new orders sub-index rose to a record high of 65.3 in May and expanded for seven consecutive months, with purchasing inventories at a record high; the preliminary value of the services PMI expanded for 10 consecutive months in May, with the preliminary value of the price collection sub-index rising to a record high of 65.6 and expanding for 12 consecutive months, with the price input sub-index at a record high; the preliminary value of the comprehensive new orders sub-index rose to The preliminary value of the composite new orders sub-index rose to a record high of 67.4 in May and expanded for 10 consecutive months, with the preliminary value of the price input sub-index hitting a record high.
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