Economic activity in the US manufacturing sector expanded in May, and the overall economy grew for the 109th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business.
The May PMI registered 58.7 percent, an increase of 1.4 percentage points from the April reading of 57.3 percent.
The New Orders Index registered 63.7 percent, an increase of 2.5 percentage points from the April reading of 61.2 percent.
The Production Index registered 61.5 percent, a 4.3 percentage point increase compared to the April reading of 57.2 percent.
The Employment Index registered 56.3 percent, an increase of 2.1 percentage points from the April reading of 54.2 percent.
The Supplier Deliveries Index registered 62 percent, a 0.9 percentage point increase from the April reading of 61.1 percent.
The Inventories Index registered 50.2 percent, a decrease of 2.7 percentage points from the April reading of 52.9 percent.
The Prices Index registered 79.5 percent in May, a 0.2 percentage point increase from the April reading of 79.3 percent, indicating higher raw materials prices for the 27th consecutive month.
Of the 18 manufacturing industries, 16 reported growth in May, in the following order: textile mills; nonmetallic mineral products; electrical equipment, appliances and components; printing and related support activities; fabricated metal products; furniture and related products; machinery; chemical products; food, beverage and tobacco products; computer and electronic products; petroleum and coal products; plastics and rubber products; miscellaneous manufacturing; transportation equipment; paper products; and primary metals.
No industry reported a decrease in PMI in May compared to April.