FX.co ★ US Private Sector Growth Softens in May

The S&P Global US Composite PMI registered 51.5 in May 2026, edging down from 51.7 in April and indicating a modest expansion in private sector activity. New business growth remained subdued, and performance was mixed across sectors: stronger manufacturing output was partially offset by softer conditions in services. Employment fell at the fastest rate in six years, underscoring growing signs of labor market weakness. Business confidence also deteriorated, slipping to its lowest level in 13 months. At the same time, inflationary pressures stayed elevated, with input costs rising at the sharpest pace in a year. Firms raised selling prices more aggressively as well, suggesting that higher costs continued to be passed on to customers.