US May ISM Manufacturing PMI Falls Short of Expectations
The US May ISM Manufacturing PMI further declined into contraction territory, with orders falling, production weak, and the price index exceeding expectations but still the second highest in two years.
The PMI was 48.7, the lowest in three months, missing expectations and down from April’s 49.2.
This data indicates that US manufacturing is struggling to gain momentum, with producers facing rising input costs.
The US May Markit Manufacturing PMI final reading was 51.3, up from the preliminary 50.9, contrasting with the ISM PMI.
However, both PMI figures indicate significant price pressures.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
