U.S. Economy Picks Up Speed, Defying Fed Attempts To Cool Inflation and Growth

U.S. Economy Picks Up Speed, Defying Fed Attempts To Cool Inflation and Growth


 The U.S. economy got a major boost in May, according to the latest S&P surveys. Businesses are feeling good about the future, even with inflation still causing headaches.

The S&P flash U.S. services index, which is based on a survey of purchasing managers’ at U.S. businesses, shot up to a 12-month high of 54.8 in May from 51.3 in April. These are the folks buying supplies for their companies, so this is a big deal.

Not to be outdone, the flash U.S. manufacturing PMI climbed to 50.9 in May from 50.0. Anything above 50 means growth, so it looks like things are picking up.

“The US economic upturn has accelerated again after two months of slower growth, with the early PMI data signalling

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!