NAM (CONT’D FROM PAGE 14)
pansion for the 61st month after one month of contraction in April 2020. (A Manufacturing PMI above 42.3 percent, over a period of time, generally indicates an expansion of the overall economy.) “The New Orders Index contracted for the fourth month in a row following a three-month period of expansion; the figure of 47.6 percent is 0.4 percentage point higher than the 47.2 percent recorded in April. The May reading of the Production Index (45.4 percent) is 1.4 percentage points higher than April’s figure of 44 percent. “The index continued in contraction in March for the third straight month after two months of expansion pre- ceded by eight months of contraction. The Prices Index remained in expansion (or increasing) territory, registering 69.4 percent, down 0.4 percentage point compared to the reading of 69.8 percent in April. The Backlog of Orders Index registered 47.1 percent, up 3.4 percentage points compared to the 43.7 percent recorded in April. The Em- ployment Index registered 46.8 percent, up 0.3 percent- age point from April’s figure of 46.5 percent. “The Supplier Deliveries Index indicated a continued slowing of deliveries, registering 56.1 percent, 0.9 percent- age point higher than the 55.2 percent recorded in April. (Supplier Deliveries is the only ISM Report On Business index that is inversed; a reading of above 50 percent in- dicates slower deliveries, which is typical as the economy improves and customer demand increases.) CONTINUED ON PAGE 18
hancing America’s competitiveness on the world stage; and protect the 21 percent corporate tax rate, ensuring America remains the best place for manufacturing in- vestment and job creation. The NAM recently launched a new ad featuring small and medium-sized manufacturers from across the coun- try thanking Chairman Smith and the whole committee for championing the policies in the bill most critical to the manufacturing industry. For more information, visit nam.org . ISM: Manufacturing Contracts For Third Straight Month Economic activity in the manufacturing sector contracted in May for the third consecutive month, following a two- month expansion preceded by 26 straight months of con- traction, say the nation’s supply executives in the latest Manufacturing ISM Report On Business. The report was issued by Susan Spence, MBA, Chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee: “The Manufacturing PMI registered 48.5 percent in May, 0.2 percentage point lower compared to the 48.7 percent recorded in April. The overall economy continued in ex-
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