(CercleFinance.com) – The growth of manufacturing activity in the United States accelerated in May, contrary to what was expected, shows the monthly survey of the Institute for Supply Management (ISM).
The ISM manufacturing index rose to 56.1 last month from 55.4 in April, while economists on average expected a figure of 54.2.
The index thus remains well above the threshold of 50, testifying to growth in the manufacturing sector, for the 24th consecutive month.
The new orders sub-index came out at 55.1 from 53.6 the previous month, while that of employment fell to 49.6 from 50.9 in April.
The acceleration of the manufacturing industry belies the scenario according to which the economic recovery is running out of steam in the United States while the Fed has now started a cycle of monetary tightening.
Published a little earlier, the sector’s PMI purchasing managers’ index calculated by S&P Global stood at 57 in final data for the past month, against a ‘flash’ estimate which was 57.5, and after a level of 59.2 in April.
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