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The week ahead is a big one for business surveys and for employment during May:
(1) The last of the five regional Fed banks’ business surveys will be released on Tuesday. The four available ones showed a sharp slowdown in business activity, suggesting that Wednesday’s M-PMI will also be weak even though the flash M-PMI estimate remained strong. The regional surveys also showed that prices-paid and prices-received indexes remained very high, suggesting the same for the M-PMI prices-paid index.
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