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U.S. Factory, Services Activities Expand in May

M. Ali 21 May, 2021 7:20 pm Market Update

Factory activity in the United States expanded this month, supported by a robust local demand, data showed on Friday.

The flash U.S. manufacturing purchasing managers’ index (PMI) rose to 61.5 in the first half of May from 60.5 in April, according to IHS Markit.

This marked the highest reading for the index since October 2009.

Meanwhilee, IHS Markit U.S. flash services sector PMI surged to 70.1, its highest reading on record since October 2009, from 64.7 in the previous month.

The flash composite PMI output index increased to 68.1 from 63.5 in April.

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