High Inflation Weighs on U.S., Global Economies

Business surveys said on Tuesday, business surveys showed growth in the US and global economies slowed in May as high inflation weighed on demand.

In the US, data firm S&P Global said the composite purchasing managers index – which measures activity in both the manufacturing and services sectors – was 53.8 in May, down from 56.0 in April and was the weakest growth in 4 months. Separately, S&P Global said its index for the eurozone manufacturing and services sectors fell to 54.9 in May from 55.8 in April.

https://www.wsj.com/articles/europes-economy-slows-as-factories-hit-hard-by-surging-costs-11653387746?mod=pls_whats_news_us_business_f High Inflation Weighs on U.S., Global Economies

Edmund DeMarche

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