The ISM purchasing managers index stood at 61.2% in May, 0.5 points higher than in April, and above the 61% expected by analysts.
–
Growth in the manufacturing sector in the United States accelerated a little more than expected in May, with demand remaining high, and despite persistent difficulties for labor and supply, according to the ISM index of managers purchase released Tuesday.
The index stood at 61.2% in May, up 0.5 points from April, and higher than the 61% expected by analysts.
An index greater than 50% means that the activity is expanding; it is in contraction if the index is below this threshold.
The companies questioned within the framework of this monthly survey, as well as their suppliers, indicated a “growing demand”, underlined Timothy Fiore, in charge of this study, quoted in the press release.
But “record (delivery) times, large-scale shortages of essential raw materials, rising raw material prices and difficulties in transporting products continue to affect all segments of the manufacturing economy,” emphasizes- he does.
In addition, “worker absenteeism, short-term shutdowns due to shortages of parts and difficulties in filling vacant positions continue to be problems that limit the growth potential of manufacturing,” explains the economist. .
Companies face supply challenges globally. This is pushing up prices, and inflation in the United States accelerated in April, to 3.6% year on year, its largest increase since 2007, according to the PCE index released Friday.
–
