Notizie economiche
03.06.2024

U.S. manufacturing activity contraction deepens further in May, - ISM

A report from the Institute for Supply Management (ISM) revealed on Monday the U.S. manufacturing sector’s activity contracted in May at a faster pace than in the previous month.

The ISM's index of manufacturing activity - the manufacturing PMI - checked in at 48.7 per cent in May, down 0.5 percentage point from an unrevised April reading of 49.2 per cent. The May reading indicated that economic activity in the manufacturing sector shrank for the second straight month and at a steeper pace than in the previous month.

Economists had predicted the indicator to rise to 49.6 per cent.

According to the report, the New Orders Index plunged 3.7 percentage points to 45.4 per cent last month, the lowest level since May 2023 (42.9 per cent). The Production Index declined 1.1 percentage points to 50.2 per cent but remained in growth territory. Meanwhile, the Employment Index climbed 2.5 percentage points to 51.1 per cent, indicating that employment expanded in May after seven consecutive months of decline. The Supplier Deliveries Index held steady at 48.9 per cent, marking the third successive month of quicker deliveries after one month of slower performance. Elsewhere, the Inventories Index slipped 0.3 percentage point to 47.9 per cent, suggesting manufacturing inventories contracted at a slightly faster rate compared to the previous month. On the price front, the Prices Index fell 3.9 percentage points to 57.0 per cent, indicating raw materials prices rose in May for the fifth month after eight consecutive months of decreases.

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