FTSD - Flash PMI Data Signals Steep Acceleration Of U.S. Growth Midway Through Second Quarter

2024-05-27 04:22:00 ET

Summary

• The US economic upturn accelerated again in May after two months of slower growth, with the early PMI data signaling the fastest expansion for just over two years.
• US business activity growth accelerated sharply to its fastest for just over two years in May, according to provisional PMI survey data from S&P Global, signaling an improved economic performance midway through the second quarter.
• Employment fell for a second successive month in May, contrasting with the continual hiring trend seen over the prior 45 months.

The US economic upturn accelerated again in May after two months of slower growth, with the early PMI data signaling the fastest expansion for just over two years. The data put the US economy back on course for another solid GDP gain in the second quarter....

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