Christopher Nye
on June 6th, 2023 The ISM Services PMI fell to 50.3 in May from 51.9 in April, marking slow growth in the services sector. Despite the slow growth, yesterday’s data pointed to the fifth consecutive month of growth in the services sector.
The data had a disappointing impact on markets after raising concerns among investors regarding the resilience of the US economy. The yield on the US 10-year Treasury note reversed early gains due to the poor data.
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