Chris Williamson, the chief business economist at S&P Global Market Intelligence, has stated that the US economy continued to exhibit a dual-speed growth trend in May, with a stark contrast between the sluggish performance of the manufacturing sector and the recovery of the service industry. Businesses in sectors such as tourism, entertainment, and leisure are enjoying a small boom after the pandemic, as consumers shift their focus from goods to services. Survey data showed that GDP annualised growth was slightly above 2%, and positive business expectations suggest that the economy will maintain strong growth as it enters the summer. However, just as demand has shifted from goods to services, inflationary pressures are also evident. Although commodity price inflation fell sharply in May, with only a slight rise, service prices continued to surge due to soaring demand and operational constraints – primarily caused by labour shortages. While service providers that have regained momentum are set to make significant profits this summer, concerns about the resilience of the economy later this year have been raised due to the weakness of the manufacturing sector. The headwinds of rising interest rates and living costs may have a greater impact on consumer spending in the future.