The ISM Manufacturing Index registered 54.9 points in May, up 0.1 percentage point from the previous month, according to the Institute for Supply Management. May’s reading indicates a ninth consecutive month of expansion in manufacturing, as readings over 50 points denote expansion. Of the eighteen manufacturing industries, fifteen reported growth while one reported contraction.
The Employment Index increased 1.5 points to 53.5 in May, indicating expansion for the eighth consecutive month. Eleven industries reported expansion, while five reported a decrease in employment.
The New Orders Index increased 2.0 points to 59.5 in May, indicating growth for the eighth consecutive month. Fourteen industries reported expansion, while one reported a decrease in employment.
Export orders decreased 2.0 points to 57.5, indicating growth for the fifteenth consecutive month. Eleven industries reported growth while two of the eighteen reported a decrease in new export orders.
The inventories index registered 51.5 points, up 0.5 point from the previous month. Six industries reported higher inventories, while six reported a decrease.
Read the ISM release.
