US: ISM Manufacturing PMI improves to 58.7 in May to surpass market estimate of 58.1

Eren Sengezer FXStreet

“The May PMI® registered 58.7 percent, an increase of 1.4 percentage points from the April reading of 57.3 percent," the Institute for Supply Management announced on Friday.

The New Orders Index registered 63.7 percent, an increase of 2.5 percentage points from the April reading of 61.2 percent.
The Production Index registered 61.5 percent, a 4.3 percentage point increase compared to the April reading of 57.2 percent.
The Employment Index registered 56.3 percent, an increase of 2.1 percentage points from the April reading of 54.2 percent.
The Supplier Deliveries Index registered 62 percent, a 0.9 percentage point increase from the April reading of 61.1 percent.
The Inventories Index registered 50.2 percent, a decrease of 2.7 percentage points from the April reading of 52.9 percent.
The Prices Index registered 79.5 percent in May, a 0.2 percentage point increase from the April reading of 79.3 percent, indicating higher raw materials prices for the 27th consecutive month.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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