ISM: US Manufacturing Expanded in May, Exceeds Expectations

The outlook among purchasing managers surveyed by the Institute for Supply Management was positive in May. US manufacturing activity grew at a slightly faster rate than anticipated as the six biggest manufacturing industries registered moderate to strong growth last month.

May’s Manufacturing PMI rose to 56.1%, a 0.7 percentage point gain compared to a reading of 55.4% in March. The index reading above 50% indicates growth in the manufacturing sector. May’s measure marks the 24th consecutive month of expansion since the Covid-19 outbreak in the spring of 2020.

Manufacturing

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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