U.S. Manufacturing Activity Reaches Four-Year High in May
A survey by S&P Global showed U.S. manufacturing activity rose to its highest level in four years during May. The increase was driven by stronger new orders and production.
ibtimes.co.ukU.S. manufacturing activity rose to a four-year high in May, according to a survey by S&P Global. S. 2 in April. Readings above 50 indicate expansion in the sector.
New orders and production both grew at faster rates than in the previous month. Employment levels also improved, though at a modest pace. The survey found that supply chain pressures eased slightly compared with April. Input costs continued to rise, but at a slower rate than in recent months.
Reported higher optimism about future output, citing expectations of stronger demand. The data covers responses collected from purchasing managers at more than 800 manufacturers.
Key Facts
Potential Impact
- 01
Stronger manufacturing data may influence Federal Reserve policy decisions.
- 02
Companies could increase hiring if demand continues to rise.
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