Economy
June 5, 2022
May Manufacturing Growth Slows, Demand Edging Down: PMI
Written by David Schollaert
The S&P Global US manufacturing PMI – another measure of manufacturing – fell to 57 in May, its lowest level in four months, and a noticeable turn from the market improvement the month prior.
Last month’s results are down from 59.2 in April and a “flash” May reading of 57.5. (Recall that a reading above 50.0 indicates growth.) The report said the manufacturing upturn slowed amid cooling demand, surging costs, and material shortages. In particular, cost inflation accelerated to the fastest pace in six months even though delivery delays were the least widespread in 16 months.
