In May, the ISM manufacturing index (PMI) declined 1.3 percentage points to 53.5%. The reading undershot market expectations, which had anticipated the index moderating to 54.0%. Despite the decline, the index remains above the 50% threshold, which indicates the manufacturing sector has now been expanding for 33 consecutive months. The deterioration over the previous month reflected declines in four out of the five sub-components of the index, with the production and inventories sub-indices recording the largest drops. That said, according to the ISM
United States PMI
Manufacturing PMI eases in May
June 1, 2012
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Note: Composite index in the Manufacturing Report on Business (PMI). Readings above 50% indicate an expansion in the manufacturing sector while readings below 50% point to a contraction.
Source: Institute for Supply Management (ISM).
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