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USA: composite PMI at 25-month high in May

( - Growth in the US private sector accelerated sharply in May, according to S&P Global's composite PMI, which rose to a 25-month high of 54.
4 in flash estimates, compared with 51.3 in final data for the previous month.

For the record, it is the 50-point threshold that separates expansion and contraction in a sector's activity: the higher the PMI is above this threshold, the faster the pace of expansion.

S&P Global points out that the services sector is driving this increase, reporting the strongest growth in output for a year, but that the manufacturing sector is also showing more vigorous growth.

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