U.S. PMIs Outperform Expectations in May

Official reports from S&P Global indicate a strong showing for US services and composite PMI data in May. The final reading for the U.S. S&P Global Services PMI, at 53.7, exceeded the projected 52.3 and previous value of 52.3. Similarly, the final U.S. S&P Global Composite PMI, reaching 53, outperformed forecasts of 52.1 and surpassed its prior figure of 52.1. These positive PMI readings come with minimal immediate impact on gold, silver, or USD index prices.