Last updateFri, 03 Jul 2020 5pm

Manufacturing & The Economy

U.S. Manufacturing Growth at Nine-Year Low

U.S. manufacturers indicated a slower expansion in output in May amid further signs of relatively subdued demand conditions. The seasonally adjusted IHS Markit Flash U.S. Manufacturing Purchasing Managers’ Index (PMI) registered 50.6 in May, down from 52.6 in April. Although the index reading continued to signal an improvement in operating conditions across the manufacturing sector, the upturn was the least marked since September 2009 and only marginal. Underlying data indicated a broad-based slowdown in the rates of expansion for output, employment and pre-production inventories, while new orders declined for the first time since August 2009.

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