The seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) for May was 52.0, rising 1.8 points from April. Manufacturers reported an increase in new orders as clients attempted to mitigate impending supply chain issues and higher prices due to tariffs.
The PMI index comprises five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times, and stocks of raw materials. A reading above 50 indicates growth, while below represents a contraction. See S&P Global