May US ISM services 49.9 vs 52.0 expected ...Middle East

Prior was 51.6Prices paid: 68.7 vs. 65.1 priorNew orders: 46.4 vs. 52.3 prior -- first negative reading in a yearEmployment: 50.7 vs. 49.0 priorBusiness activity: 50.0 vs. 53.7 priorSupplier deliveries: 52.5 vs. 51.3 priorInventories: 49.7 vs. 53.4 priorBacklog of orders: 43.4 vs. 48.0 priorNew export orders: 48.5 vs. 48.6 priorImports: 48.2 vs. 44.3 priorInventory sentiment: 62.9 vs. 56.1 prior

Comments in the report:

“Tariff variability has thrown residential construction supply chains into chaos. Many items are still manufactured in southeast Asia, and suppliers are beginning to test the waters for increases. Major heating, ventilation and air conditioning equipment manufacturers are passing on their cost increases due to higher refrigerant and steel commodity prices. Planning is difficult for community projects that could be scheduled for the next 22 to 30 months.” [Construction]“Steady, with some signs of growth and opportunity.” [Finance & Insurance]“Federal budget cuts are affecting purchasing decisions.” [Health Care & Social Assistance]“Tariffs remain a challenge, as it is not clear what duties apply. The best plan is still to delay decisions to purchase where possible.” [Information]“Due to the tariffs, we’ve had had small price increases on our international raw materials, and some suppliers are holding back inventory to cover uncertainties. We’ve seen some slowdown in the production of new wells, but there has been an increase in restimulation of existing wells.” [Mining]“Life science startups continue to push forward on clinical trials and market launches. The level of investment grew this month. The impacts of tariffs are being watched but are not driving changes in strategic plans.” [Professional, Scientific & Technical Services]“The projects are slowly starting to be issued, albeit with a great deal of market uncertainty.” [Public Administration]“Business is strong. Consumer concerns over tariffs may be driving some demand.” [Retail Trade]“Tariffs have increased the cost of doing business. It’s too early to tell what the lasting impact of this will be. We have tried to budget for the increase, but it has been a moving target. Overall, we are seeing a leveling off in business activity; time will tell if this is temporary or long lasting.” [Transportation & Warehousing]“Business activity is increasing due to demand for data centers, commercial growth and infrastructure. Residential growth remains flat.” [Utilities] This article was written by Adam Button at www.forexlive.com.

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