May’s services sector growth slowed slightly below expectations, while manufacturing outperformed estimates, per flash PMI data.
US flash services PMI fell to 50.9 in May, below the 51.1 forecast, signaling a modest slowdown in sector growth. Manufacturing PMI rose to 55.3, surpassing the 53.8 estimate and marking a rebound from April’s 54.5 print.
The composite PMI held steady at 51.7, matching expectations and prior-month levels. Services activity, a key driver of US economic growth, showed signs of cooling amid mixed demand trends.
Markets await further data to assess whether the divergence between services and manufacturing persists.