The U.S. manufacturing sector contracted in May, Manufacturing PMI® registered 48.7%, down 0.5 percentage points (pp) from the seasonally adjusted 49.2% recorded in April. Regarding the overall economy, this figure indicates that the economy continued in expansion for the 48th month after one month of contraction in April 2020. (A manufacturing PMI® above 42.5%, over a period of time, generally indicates an expansion of the overall economy.)
The Employment Index registered 51.1%, up 2.5 pp from April’s figure of 48.6%.
The Prices Index registered 57%, down 3.9 pp compared to the reading of 60.9% in April.
The New Orders Index remained in contraction territory, registering 45.4%, 3.7 pp lower than the 49.1% recorded in April.
The New Export Orders Index reading of 50.6% is 1.9 pp higher than the 48.7% registered in April.
The Inventories Index registered 47.9%, down 0.3 pp compared to April’s reading of 48.2%.
Read the ISM release.