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| May ISM Manufacturing Index |
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| Updated: 01-Jun-26 10:34 ET |
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Highlights
- The ISM Manufacturing Index hit 54.0% in May ( consensus 53.1%), up from 52.7% in April.
- The dividing line between expansion and contraction is 50.0%, so the May figure suggests an acceleration in the rate of change in manufacturing activity compared to April.
Key Factors
- The New Orders Index increased to 56.8% from 54.1%.
- The Production Index rose to 54.3% from 53.4%.
- The Prices Index fell to 82.1% from 84.6%.
- The Employment Index rose to 48.6% from 46.4%.
- The Backlog of Orders Index rose to 52.2% from 51.4%.
- The Supplier Deliveries Index remained at 60.6%.
- The New Export Orders Index increased to 50.6% from 47.9%.
Big Picture
- The key takeaway from the report is that it continued showing some stagflationary elements for the second consecutive month, as employment remained in contraction-though at a slower rate-while the prices index only dipped slightly from its sharpest increase since early 2022.
| Category |
MAY |
APR |
MAR |
FEB |
JAN |
| Total Index |
54.0 |
52.7 |
52.7 |
52.4 |
52.6 |
| Orders |
56.8 |
54.1 |
53.5 |
55.8 |
57.1 |
| Production |
54.3 |
53.4 |
55.1 |
53.5 |
55.9 |
| Employment |
48.6 |
46.4 |
48.7 |
48.8 |
48.1 |
| Deliveries |
60.6 |
60.6 |
58.9 |
55.1 |
54.4 |
| Inventories |
49.9 |
49.0 |
40.1 |
48.8 |
47.6 |
| Export Orders |
50.6 |
47.9 |
49.9 |
50.3 |
50.2 |
| Prices paid (not seas adj) |
82.1 |
84.6 |
78.3 |
70.5 |
59.0 |
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