US Private Sector Growth Softens to 51.5 as Employment Falls at Fastest Pace in 6 Years
Updated
Updated · TradingView · Jun 3
US Private Sector Growth Softens to 51.5 as Employment Falls at Fastest Pace in 6 Years
3 articles · Updated · TradingView · Jun 3
Summary
S&P Global’s US Composite PMI slipped to 51.5 in May from 51.7 in April, signaling only modest private-sector expansion as new business growth stayed subdued.
Employment dropped at the fastest pace in six years, pointing to a weakening labor market even as manufacturing outperformed softer services activity.
Business confidence fell to a 13-month low, adding to signs that firms see weaker demand and a less supportive near-term outlook.
Input costs rose at the strongest pace in a year, and companies lifted selling prices more sharply, showing inflation pressures are still being passed on to customers.