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Tempe, Arizona — Economic activity in the manufacturing sector grew for the fourth consecutive month in May. The overall economy grew for the seventh consecutive month, say the nation's supply executives in the latest Manufacturing ISM
The report was issued today by Norbert J. Ore, C.P.M., chair of the Institute for Supply Management™ Manufacturing Business Survey Committee and group director, strategic sourcing and procurement, Georgia-Pacific Corporation. "May was a good month for manufacturing. The PMI strengthened as 16 industries saw improvement in new orders. This should help establish momentum in the sector that will carry forward into the third quarter."
ISM's Backlog of Orders Index indicates that order backlogs grew for the fourth consecutive month. ISM's Supplier Deliveries Index reflects slower deliveries for the fifth consecutive month. Manufacturing employment continued to decline in May as the index remained below the breakeven point (an index of 50 percent) for the 20th consecutive month. ISM's Prices Index is above 50 percent as manufacturers experienced higher prices for the third consecutive month. New Export Orders grew in May for the fifth consecutive month. May's Imports Index decelerated, while still registering growth for the sixth consecutive month.
The report was issued today by Norbert J. Ore, C.P.M., chair of the Institute for Supply Management™ Manufacturing Business Survey Committee and group director, strategic sourcing and procurement, Georgia-Pacific Corporation. "May was a good month for manufacturing. The PMI strengthened as 16 industries saw improvement in new orders. This should help establish momentum in the sector that will carry forward into the third quarter."
ISM's Backlog of Orders Index indicates that order backlogs grew for the fourth consecutive month. ISM's Supplier Deliveries Index reflects slower deliveries for the fifth consecutive month. Manufacturing employment continued to decline in May as the index remained below the breakeven point (an index of 50 percent) for the 20th consecutive month. ISM's Prices Index is above 50 percent as manufacturers experienced higher prices for the third consecutive month. New Export Orders grew in May for the fifth consecutive month. May's Imports Index decelerated, while still registering growth for the sixth consecutive month.