Posted June 1, 2020

Manufacturing index improved in May

While still in contraction territory, the Institute for Supply Manufacturing's index registered 43.1 percent, 1.6 percentage points higher than the April reading of 41.5 percent.

“The PMI contracted strongly in April and May after dropping below 50 percent in March. The PMI recorded its second-lowest level since April 2009, when it registered 39.9 percent. Among the big six industries, only Food, Beverage & Tobacco Products expanded. Four of the five PMI subindexes continue to be negatively impacted by the COVID-19 pandemic," said Timothy R. Fiore, chair of the ISM Manufacturing Business Survey Committee.

The New Orders Index registered 31.8 percent, an increase of 4.7 percentage points from the April reading of 27.1 percent. The Production Index registered 33.2 percent, up 5.7 percentage points compared to the April reading of 27.5 percent.

Click for details.