Afternoon summary
Time for a recap – here are today’s main stories:
The latest health checks on America’s services sector paint a conflicting picture, with ISM reporting growth fizzled out..
Conflicting signals for the US services sector in May. Today's ISM Services PMI slipped to 50.3 last month https://t.co/IxhXknYAyL, effectively signaling that the sector's growth rte has ground to a standstill. But... pic.twitter.com/OE7RY2Na3b
— James Picerno (@jpicerno) June 5, 2023
… while S&P Global spies a pickup in activity;
The S&P Global US Services PMI for May tells a different story as this index posts its "strongest upturn in business activity for over a year as demand conditions improve." https://t.co/wms1bvjZlT Reality is probably somewhere in the middle of the two. pic.twitter.com/8veSNwBRy1
— James Picerno (@jpicerno) June 5, 2023
