Source: S&P Global Construction activity weakened in the eurozone in May, with an index of 49.2, signaling contraction and down from 50.4 in April. The fall in activity was the fastest in fifteen months. DAX is down -1.16%, EURUSD is down -0.36%. The decline in construction activity was connected to higher material prices and supply-chain bottlenecks that affected … [Read more...] about Europe Construction Activity Enters the Contraction Zone in May
Forex News
UK Business Output Growth Falls to 15-Month Low
Source: S&P Global Business activity in the United Kingdom slowed for the second straight month in May, marking the weakest expansion in 15 months. EWU was up 0.42%, after hours, while EZU is down 0.90% premarket. The S&P Global / CIPS UK Services PMI Business Activity Index stood at 53.4 in May, lower than the 58.9 in April.The latest reading is the lowest in 15 … [Read more...] about UK Business Output Growth Falls to 15-Month Low
China’s Services PMI Falls Three Straight Months in May
Source: S&P Global China’s services sector shrank for a third consecutive month in May, signaling a slow recovery despite the easing of COVID lockdowns in Shanghai. CSI 300 Index up +1.87%, CNYUSD up +0.31% The Caixin services purchasing managers’ index (PMI) jumped to 41.4 in May from 36.2 in April, increasing slightly as authorities started to roll back on some … [Read more...] about China’s Services PMI Falls Three Straight Months in May
US Business Activity Growth Slips to Four-Month Low
Source: S&P Global Business activity growth in the United States slowed in May, marking the lowest level in four months. QQQ is down 2.92%, while SPY is down 1.76%. The S&P Global US Services PMI Business Activity Index fell to 53.4 in May from 55.6 in April, broadly in line with the earlier estimate of 53.5.The latest reading is the slowest since January, dragged … [Read more...] about US Business Activity Growth Slips to Four-Month Low
US Nonfarm Payroll Growth Slows on Weaker Retail Trade
Source: Bureau of Labor Statistics Nonfarm payrolls in the United States continued to grow in May, albeit at a slower pace, with notable declines recorded in retail trade. EZU is down 1.04%, while VGK is down 1.14%. Total nonfarm payrolls increased by 390,000 last month, lower than the 436,000 in April and the 447,000 in May 2021.The private sector accounted for 333,000, … [Read more...] about US Nonfarm Payroll Growth Slows on Weaker Retail Trade
