somehow, this never went live on June 2nd — I am reposting it now, on June 3, 10:56am
U.S.
manufacturing expanded at a slower-than-expected rate in May as
industrial companies worked through excess inventory, especially in the
auto sector, figures from a private research organization showed on
Wednesday.
While manufacturing activity expanded for the 24th consecutive
month, the rate has slowed in each of the last six months, and May’s
reading was the lowest since June 2003, according to the Institute for
Supply Management.
The chart nearby shows the Purchasing Managers Index for the past 12 months.
The data indicate that the manufacturing sector is losing momentum, the institute said. A reading of 50 or above in the index means the manufacturing sector is expanding, however. A figure below 50 represents a contraction.
The index’s employment component fell to 48.8 in May from April’s 52.3, which suggests that manufacturers are hiring fewer workers and could affect the May non-farm payroll report due on Friday.
| MANUFACTURING AT A GLANCE MAY 2005 |
||||||
|---|---|---|---|---|---|---|
| Index | Series Index May |
Series Index April |
Percentage Point Change |
Direction | Rate of Change |
Trend* (Months) |
| PMI | 51.4 | 53.3 | -1.9 | Growing | Slower | 24 |
| New Orders | 51.7 | 53.7 | -2.0 | Growing | Slower | 25 |
| Production | 54.9 | 56.7 | -1.8 | Growing | Slower | 25 |
| Employment | 48.8 | 52.3 | -3.5 | Contracting | From Growing |
1 |
| Supplier Deliveries | 50.5 | 51.5 | -1.0 | Slowing | Slower | 23 |
| Inventories | 47.8 | 47.9 | -0.1 | Contracting | Faster | 2 |
| Customers’ Inventories | 47.5 | 41.5 | +6.0 | Contracting | Slower | 48 |
| Prices | 58.0 | 71.0 | -13.0 | Increasing | Slower | 39 |
| Backlog of Orders | 51.0 | 53.0 | -2.0 | Growing | Slower | 6 |
| Exports | 54.9 | 57.2 | -2.3 | Growing | Slower | 41 |
| Imports | 53.9 | 56.7 | -2.8 | Growing | Slower | 42 |
| OVERALL ECONOMY | Growing | Slower | 43 | |||
| Manufacturing Sector | Growing | Slower | 24 | |||
*Number of months moving in current direction
Source:
Manufacturing Activity Expands in May
THERESA AGOVINO
AP, June 1, 2005
Manufacturing still growing in May, but slowly
USA Today, 6/1/2005 10:25 AM
http://www.usatoday.com/money/economy/production/2005-06-01-ism_x.htm?POE=NEWISVA
WSJ
http://online.wsj.com/documents/ecocharts.htm
http://online.wsj.com/documents/bbnapm.htm
