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US PMIs Lead The World As Manufacturing Tops 4-Year Highs, Services Sink
US PMIs Lead The World As Manufacturing Tops 4-Year Highs, Services Sink
Following Japan's ugly PMIs (Services lowest since March 2025) and Europe's disaster (weakest composite EU PMI since late 2023)...
...with prices surging...
All eyes are on the US 'soft' survey data for signs of divergence (or contagion).
With US 'hard' data improving notably, the preliminary soft survey data for May was mixed with improved performance in manufacturing was countered by a sluggish service sector.
Flash US Services PMI Business Activity Index: 50.9 (April: 51.0). 2-month low.
Flash US Manufacturing PMI: 55.3 (April:...
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Give Them An Inch...
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By Bas van Geffen, senior macro strategist at Rabobank
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