Economy
June 1, 2017
ISM PMI Grows Slightly to 54.9
Written by Sandy Williams
Manufacturing activity expanded in May according to the Manufacturing ISM Report on Business. The PMI rose 0.1 percent from April to a reading of 54.9 percent. The new orders index rose 2 points to 59.5 percent while the production index declined 1.5 points to 57.1.
Inventories were relatively stable in May. The inventory index rose 0.5 percent to 51.5. The prices index decreased 8 points to 60.5 percent. The decrease indicated a fifteenth month of higher raw material prices but May’s increase was at a slower rate compared to April.
