ISM Manufacturing PMI Maintains Growth in May

The U.S. manufacturing sector saw an improving level of business activity last month, according to data released on Tuesday.

May witnessed an extension to an expansion streak for the sector to the 12th consecutive month, with the overall economy growing, according to the Manufacturing ISM Report on Business by the Institute for Supply Management (ISM).

The manufacturing purchasing managers’ index (PMI) registered 61.2% in May, rising by 0.5% compared with its level in April at 60.7%.

The New Orders Index increased by 2.7% to 67%, while the Production Index fell by 4% to 58.5%.

The Backlog of Orders Index reached 70.6 percent, adding 2.4%, while the Employment Index declined by 4.2% to 50.9%

Meanwhile, the Supplier Deliveries Index rose by 3.8% to register 78.8%, and the Inventories Index gained 4.3% to amount to 50.8%.

The Prices Index reached 88%, down by 1.6% from its level in the previous month.