U.S. Manufacturing Growth Slows for May, But Industry is Still Expanding
Despite the continuous expansion of the manufacturing industry in the United States, the pace for that growth slowed during the month of May, according to measures of order and production. The Institute for Supply Management, which assesses the expansion of manufacturing, says that the industry is increasing but only at a modest pace.
The ISM said on June 2 that its manufacturing index fell from 54.9 in April to 53.2 in May for the United States. While any reading above 50 indicates expansion, the index has not been that low since February of this year.
Manufacturers are paying higher prices for raw materials right now, as well, which could affect inflation if companies pass on these costs. ISM also said that factories added fewer jobs during the month of May.
However, despite the...









