US ISM Non-Manufacturing Index rose to 56.9 in May, up from 55.5 and beat expectation of 55.5. Looking at some details, Business Activity rose 1.7 to 61.2. New Orders rose 0.5 to 58.6. Employment was strong, up 4.4 to 58.1. Prices dropped -0.3 to 55.4.
ISM noted: “The non-manufacturing sector continues to experience a slight uptick in business activity, but it is still leveling off overall. Respondents are mostly optimistic about overall business conditions, but concerns remain about tariffs and employment resources.”
