The ISM Manufacturing Index rose to 51.3 points in May – up 0.5 points from April’s reading of 50.8. May’s reading marks the third consecutive month of growth in the manufacturing industry, as readings above 50 indicate expansion. Of the eighteen manufacturing industries, twelve reported growth while six reported contraction.
The employment index registered 49.2 points, marking the sixth consecutive month of contraction. Ten industries including textile mills, wood products and printing and related support activities reported expansion. Six industries including apparel, leather and allied products and petroleum and coal products reported contraction.
The index of new orders registered 55.7 points in May, down 0.1 points. Fourteen industries reported growth in new orders, while four industries, including apparel, leather and allied products and transportation equipment, reported a decline.
Exports held at 52.5 in May, indicating expansion. Six industries, including wood products, food, beverages and tobacco, and transportation equipment reported an increase in exports, while six industries including nonmetallic mineral products and chemical products reported a decline in export orders.
The inventories index slipped 0.5 points to 45.0. Inventories contracted in May for the eleventh consecutive month.
Read the ISM release.