May ISM US Services Index 54.5 Vs. Expected 53.8 Print, Prior 53.6

April Factory New Orders Excluding Transportation Rise 1.3% Vs. Expected 0.8% Increase, Prior 1.8% Increase

April Factory New Orders Rise 4.8% Vs. Expected 4.6% Increase, Prior 1.8% Gain

S&P Global May Final Services PMI Revised Down, Below April Index

The S&P Global US services index was revised downwards to 50.7 in May from the 50.9 flash reading, compared with expectations for an upward revision to 51.0 in a survey compiled by Bloomberg.The May index is below the 51.0 reading in April and in line with other regional services data that suggest mixed readings for the sector."While remaining above the crucial 50.0 no-change mark, the index signaled only a marginal expansion that was among the weakest seen over the past two-and-a-half years," S&P Global said in the report.At the same time, business confidence was the lowest since October 2022 due to "ongoing uncertainty regarding geopolitical instability and inflationary pressures."