Figures released Wednesday morning show U.S. service providers indicated a sustained upturn in overall business activity during May.
The numbers from the Markit organization also show that the rate of expansion was only marginal and the weakest for three months. Survey respondents cited relatively subdued client demand and less favourable domestic economic conditions as key factors
weighing on business activity in May.
The seasonally-adjusted Markit Flash U.S. Services PMI Business Activity Index registered 51.2 in May, to remain above the crucial
50.0 no-change value for the third consecutive month. However, the index was down from 52.8 in April and much weaker than the long-run survey average (55.6).
The modest upturn in service sector activity helped to offset a decline in manufacturing production for the first time since September 2009
