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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
DATA REACT
The May ISM Services report paints a picture of a sector that is enjoying a surge in demand but suffering from significant bottlenecks in supply (labor and otherwise) - similar to what we saw in the manufacturing sector ISM and in other survey data for the month.
- Perhaps the most all-encompassing anecdote about the ISM report in general comes from a firm in the Accommodation & Food Services sector: "Stimulus money, increased vaccinations, increased dining capacity and pent-up demand are driving a fast recovery for dine-in restaurants — and all consumer segments, it seems — resulting in labor shortages and supply chain gaps."
A few excerpts that are of particular interest from the ISM report:
- On prices: "Prices paid by service organizations for materials and services increased in May, with the index registering 80.6 percent. The only time the Prices Index has been higher was in September 2005, when it hit 83.5 percent. All 18 services industries reported an increase in prices paid during the month of May"
- On employment: "Employment Index registered 55.3 percent in May, down 3.5 percentage points from the April reading of 58.8 percent. Comments from respondents include: "Competition for labor continues to intensify due to lack of available talent pool" and "Working to fill vacant positions; difficulty in finding qualified candidates.""
Source: ISM, MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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