Manufacturing Purchasing Managers’ Index Lowest Since February
The May Markit Flash U.S. Manufacturing PMI indicated a solid improvement in U.S. manufacturing sector business conditions, according to the preliminary ‘flash’ reading which is based on around 85% of usual monthly replies. However, with the seasonally adjusted PMI falling from 56.0 in April to 53.9, the headline PMI nonetheless signaled the weakest expansion in three months.
The PMI was pulled down by output, new orders, inventories of purchases and employment all rising at slower rates than April, while supplier delivery times lengthened at a reduced rate.
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