U.S. Service Sector Shrinks in May 2025: First Contraction in Nearly a Year Amid Trade War Fallout
The U.S. service sector, which accounts for over two-thirds of the nation’s economic activity, contracted in May 2025 for the first time since June 2024, signaling a troubling economic shift. The Institute for Supply Management (ISM) reported its Services PMI dropped to 49.9, below the 50 threshold indicating contraction, driven by Trump’s escalating trade war, … Read more