U.S. Services Index Unexpectedly Indicates Slight Contraction In May

RTTNews | 3 일 전

(RTTNews) - Service sector activity in the U.S. unexpectedly saw a slight contraction in the month of May, the Institute for Supply Management revealed in a report released on Wednesday.

The ISM said its services PMI fell to 49.9 in May from 51.6 in April, with a reading below 50 indicating contraction. Economists had expected the index to inch up to 52.0.

With the unexpected decrease, the services PMI dropped to its lowest level since hitting 49.2 in June 2024, which marked the last time the index was in contraction territory.

"May's PMI level is not indicative of a severe contraction, but rather uncertainty that is being expressed broadly among ISM Services Business Survey panelists," said Steve Miller, Chair of the ISM Services Business Survey Committee.

He added, "The average reading of 50.8 percent over the last three months still indicates expansion in that time period, but it is a notable shift of 2 percentage points below its average of 52.8 percent over the previous nine months."

The surprise dip by the headline index partly reflected a notable downturn by new orders, as the new orders index tumbled to 46.4 in May from 52.3 in April. The index indicated contraction for the first time since June 2024.

The business activity index also slid to 50.0 in May from 53.7 in April, marking the index's first month out of expansion territory since May 2020.

Meanwhile, the ISM said the employment index rose to 50.7 in May from 49.0 in April, suggesting employment activity in the services sector returned to expansion after two consecutive months of contraction.

The report said the prices index also jumped to 68.7 in May from 65.1 in April, reaching its highest level since November 2022.

"Respondents continued to report difficulty in forecasting and planning due to longer-term tariff uncertainty and frequently cited efforts to delay or minimize ordering until impacts become clearer," said Miller.

A separate report released by the ISM on Monday showed its reading on U.S. manufacturing activity unexpectedly edged slightly lower in the month of May.

The ISM said its manufacturing PMI slipped to 48.5 in May from 48.7 in April, with a reading below 50 indicating contraction. Economists had expected the index to inch up to 49.5.

With the unexpected decline, the manufacturing PMI dipped to its lowest level hitting 48.4 in November 2024.

태그 : USD

U.S. Job Growth Slightly Exceeds Estimates In May

Employment in the U.S. increased by slightly more than expected in the month of May, according to a report released by the Labor Department on Friday. The Labor Department said non-farm payroll employment shot up by 139,000 jobs in May after jumping by a downwardly revised 147,000 jobs in April.

RTTNews | 1 일 전

U.S. Employment Jumps Slightly More Than Expected In May

Employment in the U.S. increased by slightly more than expected in the month of May, according to a report released by the Labor Department on Friday.

RTTNews | 1 일 전

U.S. Labor Productivity Slumps 1.5% In Q1, Much More Than Previously Estimated

Revised data released by the Labor Department on Thursday showed U.S. labor productivity tumbled by much more than previously estimated in the first quarter of 2025. The Labor Department said labor productivity slumped by 1.5 percent in the first quarter compared to the previously reported 0.8 percent decline. Economists had expected the decrease by labor productivity to be revised to 0.7 percent.

RTTNews | 2 일 전

U.S. Trade Deficit Narrows Substantially In April As Imports Plummet

Largely reflecting a sharp pullback by the value of the imports, the Commerce Department released a report on Thursday showing a substantial decrease in the size of the U.S. trade deficit in the month of April. The Commerce Department said the U.S. trade deficit narrowed to $61.6 billion in April from a revised $138.3 billion in March.

RTTNews | 2 일 전

U.S. Jobless Claims Unexpectedly Rise To Nearly Eight-Month High

With the more closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits unexpectedly increased in the week ended May 31st. The report said initial jobless claims climbed to 247,000, an increase of 8,000 from the previous week's revised level of 239,000.

RTTNews | 2 일 전