Manufacturing continues growth trajectory
Manufacturing performed well for the 12th straight month, with demand, consumption and inputs registering strong growth compared to April.
According to the Institute for Supply Management, the May Manufacturing PMI registered 61.2 percent, an increase of 0.5 percentage point from the April reading of 60.7 percent.
“The manufacturing economy continued expansion in May. Business Survey Committee panelists reported that their companies and suppliers continue to struggle to meet increasing levels of demand," said Timothy Fiore, chair of the ISM Manufacturing Business Survey Committee. "Record-long lead times, wide-scale shortages of critical basic materials, rising commodities prices and difficulties in transporting products are continuing to affect all segments of the manufacturing economy. Worker absenteeism, short-term shutdowns due to part shortages, and difficulties in filling open positions continue to be issues that limit manufacturing-growth potential.
INDUSTRIAL SUPPLY MAGAZINE
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