How did your nation perform in May? The scoreboard can be found below.
From a global perspective activity continued to expand, albeit at a slower pace.
The Markit – JP Morgan Chase global services PMI reading fell to 54.4 from 54.8 in April. While this is a deceleration, activity across global services industries has expanded for the past 32 months.
Here’s Markit on the May result.
“The US and the UK remained two of the prime drivers of the expansion, despite seeing their rates of growth ease to four- and five-month lows respectively. Spain also reported a marked increase in business activity.
Growth in the eurozone eased (on average) during May. Apart from the slower expansion in Spain, rates of increase moderated in Germany and Italy. Growth in the French service sector ticked higher.
Japan and China both reported increases in output. Despite accelerations since April, growth remained below the global average. India and Hong Kong contracted, while Russia continued to recover. The downturn in Brazil deepened, with business activity falling at the fastest pace in over six years”.
While the headline figure fell modestly there was some good news on the labour market front with employment expanding at the fastest pace since December 2007. This, accompanied by an 11-month high in the survey’s input prices gauge, is a promising lead indicator for global growth moving forward.
Note: PMI surveys globally are not uniform in nature. Some have many questions, some one. Business Insider’s global comparison is merely an indication on trends in services activity.