Global Services Sectors Show Mixed Growth in May
US services rebound strongly, Eurozone and China see growth, while UK and manufacturing sectors show signs of slowing
Overview
- US services sector PMI rose to 53.8 in May, indicating a return to growth after April's contraction.
- Eurozone business activity expanded at its fastest rate in a year, with services leading the growth.
- China's services PMI hit a 10-month high, driven by strong new business and employment gains.
- UK services growth slowed, with inflation pressures dropping to a three-year low.
- Manufacturing sectors in the US and Eurozone showed weaker performance compared to services.