Activity in the U.S. service sector continued to contract in the month of May, although a report released by the Institute for Supply Management on Wednesday showed the pace of contraction slowed by even more than economists had been expecting.The ISM said its non-manufacturing index rebounded to 45.4 in May after plunging to an eleven-year low of 41.8 in April.A reading below 50 still indicates a...
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Forex News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.