The seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) in May was 51.3, increasing 1.3 points from April. Manufacturers reported a growth in new orders with higher customer demand.
The PMI index is comprised of 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
