U S Manufacturing Sector Held Robust Momentum in May — ISM morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
Written by Steven HansenThe ISM Manufacturing survey improved and remains in expansion. The Markit PMI manufacturing index improved and remains in expansion.
WASHINGTON (dpa-AFX) - Manufacturing activity in the U.S. expanded at a slightly faster pace in the month of May, according to a report released by the Institute for Supply Management on Tuesday.The
ISM
Economic expansion for 12
Suppliers struggle to meet increasing demand
Lead times longest since 1987
Prices highest since 2008
Wide-scale shortages of critical basic materials
Difficulties in transporting products
Short-term shutdowns due to part shortages
Exports and imports growing
While the economy is expanding, manufacturers continue to struggle with workforce shortages, limited supplies and the largest order backlog since 1993. 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.
The Manufacturing PMI, or the Purchasing Managers’ Index, is a set of economic indicators based off surveys of private-sector companies. The report was issued June 1 by Timothy R. Fiore, chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee.