Purchasing Managers Index Posted Increase in May
Tempe, AZ, June 1, 2020-The May Purchasing Managers Index (PMI) registered 43.1%, up 1.6 percentage points from the April reading of 41.5%, according to the latest Manufacturing ISM Report On Business. This figure indicates expansion in the overall economy after April’s contraction, which ended a period of 131 consecutive months of growth.
The New Orders Index registered 31.8%, an increase of 4.7 percentage points from the April reading of 27.1%.
The Production Index registered 33.2%, up 5.7 percentage points compared to the April reading of 27.5%.
The Backlog of Orders Index registered 38.2%, an increase of 0.4 percentage point compared to the April reading of 37.8%.
The Employment Index registered 32.1%, an increase of 4.6 percentage points from the April reading of 27.5%.
The Supplier Deliveries Index registered 68%; though down 8 percentage points from the April figure of 76%, this high reading elevated the composite PMI.
Of the 18 manufacturing industries, the six that reported growth in May-in the following order-are nonmetallic mineral products; furniture & related products; apparel, leather & allied products; food, beverage & tobacco products; paper products; and wood products.
The 11 industries reporting contraction in May, in order, are printing & related support activities; primary metals; transportation equipment; petroleum & coal products; fabricated metal products; machinery; miscellaneous manufacturing; electrical equipment, appliances & components; chemical products; computer & electronic products; and plastics & rubber products.