Manufacturing output shows growth from April to May

Manufacturing activity remained in growth territory last month, with nearly across the board increases in some of its key metrics, according to the May edition of the Non-Manufacturing Report on Business from the Institute for Supply Management (ISM).

The NMI, the ISM’s index to measure growth, headed up 0.5 percent to 55.4 in May (a PMI of 50 or greater represents growth), which stands 1.5 percent below the 12-month average of 54.7. The PMI has grown in 17 of the last 18 months, with economic activity in the manufacturing sector expanding for the last 12 months as the overall economy was up for the 60th consecutive month.

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