Manufacturing

U.S. Manufacturing Remained Strong Throughout May

The U.S. manufacturing sector continued to grow in May, according to a report released by the Institute for Supply Management on Thursday.

The report, which is based on a survey of executives in the industry, says that ISM’s manufacturing index rose a 10th of a point to 54.9% An index above 50% means the industry is growing, and this will be the 96th consecutive month that the manufacturing index showed growth.

“Comments from the panel generally reflect stable to growing business conditions, with new orders, employment and inventories of raw materials all growing in May compared to April,” Timothy Fiore, chair of ISM’s business survey committee, said in a statement.

Of the 18 manufacturing industries surveyed for this report, 15 reported growth in May. These were:

  • Nonmetallic Mineral Products
  • Furniture & Related Products
  • Plastics & Rubber Products
  • Machinery; Primary Metals
  • Food, Beverage & Tobacco Products
  • Electrical Equipment, Appliances & Components
  • Paper Products
  • Miscellaneous Manufacturing
  • Computer & Electronic Products
  • Transportation Equipment
  • Chemical Products
  • Fabricated Metal Products
  • Petroleum & Coal Products
  • Printing & Related Support Activities

Some subcomponents of the index were higher – with the new orders index registering 59.5 percent for the month, an increase of 2 percentage points. The production index fell by 1.5 points to 57.1 percent, and the employment index added 1.5 points to 53.5.

 

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