United States - PMI Data for May:
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US S&P Global Manufacturing: 52.3 (est 49.9; prev 50.2)
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Services PMI: 52.3 (est 50.3; prev 50.6)
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Composite PMI: 52.1 (est 51; prev 50.8)
The PMI and its components remain above 50, contrary to the expectations that sentiment would deteriorate. Importantly, this comes at a time of remaining uncertainty regarding tariffs.
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