US economic activity in the manufacturing sector expanded in May, and the overall economy grew for the 121st consecutive month, according to the latest Manufacturing ISM Report On Business.
The May PMI registered 52.1 percent, a decrease of 0.7 percentage point from the April reading of 52.8 percent.
The New Orders Index registered 52.7 percent, an increase of 1 percentage point from the April reading of 51.7 percent.
The Production Index registered 51.3 percent, a 1-percentage point decrease compared to the April reading of 52.3 percent.
The Employment Index registered 53.7 percent, an increase of 1.3 percentage points from the April reading of 52.4 percent.
The Supplier Deliveries Index registered 52 percent, a 2.6-percentage point decrease from the April reading of 54.6 percent.
The Inventories Index registered 50.9 percent, a decrease of 2 percentage points from the April reading of 52.9 percent.
The Prices Index registered 53.2 percent, a 3.2-percentage point increase from the April reading of 50 percent.
Of the 18 manufacturing industries, 11 reported growth in May, in the following order: printing and related support activities; furniture and related products; plastics and rubber products; textile mills; miscellaneous manufacturing; electrical equipment, appliances and components; computer and electronic products; chemical products; food, beverage and tobacco products; nonmetallic mineral products; and machinery.
The six industries reporting contraction in May — listed in order — are: apparel, leather and allied products; primary metals; petroleum and coal products; wood products; paper products; and fabricated metal products.