Economic activity in the manufacturing sector grew in May, with the overall economy notching a 12th consecutive month of growth, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
Manufacturing grew in May, as the Manufacturing PMI® registered 61.2 percent, 0.5 percentage point higher than the April reading of 60.7 percent. The Manufacturing PMI® continued to indicate strong sector expansion and U.S. economic growth in May. All five subindexes that directly factor into the Manufacturing PMI® were in growth territory. All of the six biggest manufacturing industries expanded, in the following order: Computer & Electronic Products; Fabricated Metal Products; Food, Beverage & Tobacco Products; Chemical Products; Transportation Equipment; and Petroleum & Coal Products.