Manufacturing Expands for 34th Consecutive Month

Tempe, AZ, June 1, 2012 --  Economic activity in the manufacturing sector expanded in May for the 34th consecutive month, according to the Institute for Supply Management.

The PMI registered 53.5%, a modest decrease of 1.3 percentage points from April's reading of 54.8 percent.

The New Orders Index continued its growth trend for the 37th consecutive month, registering 60.1% in May. This represents an increase of 1.9 percentage points from April and also the highest level recorded by the index since April 2011.

The Prices Index for raw materials fell to 47.5% in May, dropping 13.5 percentage points from April, indicating lower prices for the first time since December 2011.