ISM调查：美国5月服务业意外收缩 通胀升温

Core Viewpoint - The US services sector unexpectedly contracted in May, marking the first decline in nearly a year, indicating potential slow growth and high inflation in the economy [1] Group 1: Economic Indicators - The ISM non-manufacturing PMI fell to 49.9 in May, the lowest level since June 2024, dropping below the neutral mark of 50 [1] - The new orders index decreased from 52.3 in April to 46.4 in May, suggesting a weakening demand possibly due to diminishing tariff-related advantages [1] - Service sector clients reported that inventory levels were too high relative to demand, which is a negative sign for short-term economic activity [1] Group 2: Supply Chain and Inflation - Supplier delivery performance worsened, with extended factory delivery times indicating supply chain pressures that could contribute to rising inflation due to shortages [1] - The prices paid index for services surged from 65.1 in April to 68.7 in May, the highest level since November 2022, reinforcing inflationary concerns [1] - Economists anticipate that the impact of tariffs on inflation and employment may become evident in the hard economic data during the summer [1]