🌐*JPM GLOBAL PMI HITS 15-YEAR HIGH

• J. P. Morgan Global PMI Composite Output Index at 58.4 in May (181-month high)

• New orders rise at quickest pace since April 2006

• Capacity and price pressures remain severe

IHS:

Growth of activity was led by survey-record increases in the US and the UK. The euro area was also a bright spot, with its rate of expansion the highest in over three years.

The Asia region tended to underperform relative to its US and European counterparts. Growth in China eased, while Japan and India fell back into contraction.

All six of the sub-sectors covered by the survey registered output growth in May, the first across the board concurrent expansions since November 2018. The strongest rate of increase was in the business services sector, following by financial services.