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US manufacturing continued to grow in April

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The United States’ manufacturing sector quickened its expansion last month, according to the Institute for Supply Management survey.

The ISM’s PMI for May was up from April’s 54.9 to 55.4, following two corrections earlier released and blamed on a “software problem”.

A result of 50 separates expansion from contraction, with a score above 50 indicating growth.

The survey result was 0.1 under expectations based on Reuters’ survey of economists beforehand.

New orders were up to 56.9 (from 55.1 in April) and employment down to 52.8 (from 54.7).

Image: komonews.com

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