U.S. Manufacturing Activity Reaches Four-Year High in May

U.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.