The manufacturing sector failed to grow in May, according to the latest Manufacturing ISM Report On Business.
The Institute for Supply Management reported: "While employment and inventories continue to decline at a rapid rate and the sector continued to contract during the month, there are signs of improvement. May is the first month of growth in the New Orders Index since November 2007, with nine of 18 industries reporting growth. New orders are considered a leading indicator, and the index has risen rapidly after bottoming at 23.1 percent in December 2008.
"Also, the Customers’ Inventories Index remained below 50 percent for the second consecutive month, offering encouragement that supply chains …
Manufacturing Contracts in May
The manufacturing sector failed to grow in May, according to the latest Manufacturing ISM Report On Business.
The Institute for Supply Management reported: "While employment and inventories continue to decline at a rapid rate and the sector continued to contract during the month, there are signs of improvement. May is the first month of growth in the New Orders Index since November 2007, with nine of 18 industries reporting growth. New orders are considered a leading indicator, and the index has risen rapidly after bottoming at 23.1 percent in December 2008.
"Also, the Customers’ Inventories Index remained below 50 percent for the second consecutive month, offering encouragement that supply chains …
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