FTDS - Global Price Pressures Near Record High Amid Unprecedented Rise In Service Sector Costs

• The latest PMI data compiled for JPMorgan by S&P Global revealed an unwelcome mix of sluggish global economic growth and soaring business costs in May.
• Although global output growth picked up slightly in May, it remained at one of the weakest levels seen so far in the pandemic recovery period, according to S&P Global's PMI business survey data.
• In short, risks seem tilted toward the adverse global supply situation, keeping pressure on prices for some time to come, though uncertainties are unusually high.

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