AI Data Insight
The latest US May ISM Services New Orders Index jumped to 57.3, recovering significantly from the previous value of 53.5, and driving the overall PMI above market expectations. Impacted by geopolitical and supply chain risks, companies have heavily pulled in orders ahead of time, pushing inventories to a historical high. Meanwhile, price pressures have hit a nearly two-year high, indicating that the resilience in the services sector is accompanied by inflation anxiety.