Keeping you up to date on the latest data releases.
- ISM Manufacturing
The Purchasing Managers’ Index (PMI) decreased 1.7 percentage points to 49.0 in the month of May, indicating a general contraction in the manufacturing sector as it is below the growth threshold of 50. This is the second time it has dipped below 50 since July 2009 (the other being November 2012). Four out of the five components that constitute the PMI decreased, with inventories being the exception. Furthermore, four out of the five components were below the growth threshold of 50 with employment barely registering above at 50.1 percent. Production saw the largest decrease of 4.9 percentage points to 48.6 percent, new orders decreased 3.5 percentage points to 48.8 percent, supplier deliveries decreased 2.2 percentage points to 48.7 percent, and employment decreased 0.1 percentage points to 50.1 percent from April to May. Inventories increased 2.5 percentage points to 49.0 percent. The ISM Prices Index decreased by 0.5 percentage points to 49.5 percent. Prices have decreased by 12 percentage points since February 2013’s reading of 61.5 percent.