United States PMI May 2021

United States

United States: ISM manufacturing index increases slightly in May

June 1, 2021

The Institute for Supply Management (ISM) manufacturing index increased to 61.2 in May from 60.7 in April, consequently the index moved further above the 50-threshold that separates expansion from contraction in the manufacturing sector.

May’s stronger expansion was the result of faster growth in new orders, while production and employment levels increased at a slower pace relative to the previous month. Moreover, backlogs of work increased notably in May, while new export orders also rose at a quicker pace. On the price front, input prices continued to rise on the back of higher raw material prices but at a lower rate compared to the month prior.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 4.6% in 2021, which is down 0.1 percentage points from last month’s forecast. In 2022, panelists see industrial production rising 3.5%.

Author:, Economist

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United States PMI Chart

United States PMI May 2021

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.

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