US manufacturing activity grows for the 12th straight month
Growth in U.S. manufacturing picked up in May, even as supply chain problems persist and businesses continue to struggle to find workers
SILVER SPRING, Md. — Growth in U.S. manufacturing picked up in May, even as supply chain problems persist and businesses continue to struggle to find workers.
The Institute for Supply Management, a trade group of purchasing managers, said Tuesday that its index of manufacturing activity rose in May to a reading of 61.2 in May from 60.7 in April.
Any reading above 50 indicates manufacturing is expanding. May was the 12th consecutive month manufacturing has grown after contracting in April 2020, when the coronavirus fears triggered business shutdowns across the country.
