• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Best Managed Accounts
  • Forex Robots
  • Forex Brokers
  • Forex Signals
  • Social Trading Platforms

Forex Traders Guide

The Ultimate Forex Knowledge Base

  • Robots
  • Start Guide
  • Glossary
  • Basics
    • Currency Pairs
    • Charts
    • Candlesticks
    • Trading Tips
  • Strategies
    • Technical Analysis
    • Fundamental Analysis
    • Day Trading
    • Scalping
    • Swing Trading
    • Trend Following
  • News
  • Reviews
    • Forex Robots
    • Forex Brokers
  • Mustreads
  • Crypto Trading

Service Sector Carves Fresh All-Time High in May, Beating Expectation

June 3, 2021 by Forex Winner Leave a Comment

Service Sector Carves Fresh All-Time High in May, Beating Expectations

The services sector output hit a fresh all-time high in May as most businesses reopened after the COVID-19 pandemic, according to the Institute for Supply Management.

  • The Services PMI grew 1.3 percentage points to 64% in May from 62.7% in April.
  • The latest reading surpassed the previous record high of 63.7% recorded in March, after growing for 12 straight months.
  • All 18 industries recorded growth indicating a strong expansion after firms reopened and boosted production capacity.
  • Respondents attributed the growth to stimulus money, increased vaccinations, and eased lockdown restrictions.
  • Several firms said they started to shift back to working in the corporate office on a limited basis.
  • ISM Chair Anthony Nieves noted that downside risks remain such as capacity constraints, material shortages, weather-related delays, and challenges in logistics and employment.
  • The Supplier Deliveries index climbed 4.3 percentage points to 70.4% from April’s 66.1%. A reading above 50% indicates slower deliveries.

Best Forex Robots ›

Compare leading trading systems on the market

Filed Under: Forex News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Best Forex Robots

  1. Techberry 8.7
  2. Happy Forex 8.0
  3. Forex Fury 7.7
  4. Promax Gold EA 6.8
  5. Gump EA 6.4

Best Forex Brokers

  1. Techberry 8.7
  2. XM 8.2
  3. eToro 8.1
  4. Pepperstone 8.1
  5. IG 8.0

Latest News

High Blood Pressure in Seniors: A Balancing Act

September 30, 2023

Auto Strikes Cause Stock Market Struggles

September 29, 2023

Supreme Court to Review Conflicting Laws on Social Media Content Moderation

September 29, 2023

Footer

Forex Broker Reviews

BDSWISS

BDSwiss Review

October 28, 2019 By Forex Winner

Kodi Kai Trades Review

May 28, 2023 By Andre

nadex

Nadex Review

December 23, 2019 By Forex Winner

Forex Robot Reviews

Earn2Trade Review

August 20, 2023 By Andre

FundedNext Review

August 16, 2023 By Andre

Topstep Forex Review

August 14, 2023 By Andre

EMAIL NEWSLETTER

Sign up to receive exclusive forex trading guides and insights from our team of experts!

Copyright © 2023 · Forex Traders Guide · About Us · Contact Us
Privacy Policy · Risk Disclosure