Manufacturing output contracted in May, for the second consecutive month, according to the new edition of the Manufacturing Report on Business, which was issued today by the Institute for Supply Management (ISM).
The report’s benchmark reading, the PMI, came in at 48.7 (a reading of 50 or higher indicates growth), down 0.5% from April’s 49.2, which was off 1.1% compared to March’s 50.3 reading. March saw growth after a 16-month stretch of contraction—that was preceded by a stretch of 28 consecutive months of growth. ISM added that with May down, the PMI has contracted, at a faster rate, for two straight months.
The May PMI is 0.8% above the 12-month average of 47.9, with March’s 50.3 marking the high over that period, and June 2023 marking the lowest, at 46.4.
Please click here to read the complete article.
SC
MR
Latest Supply Chain News
Latest Podcast
Explore
Topics
Latest Supply Chain News
- AI-driven sourcing: Why the speed of change is going to only accelerate
- A Silk Road city
- U.S.-bound containerized import shipments are up in June and first half of 2024
- Do net-zero goals matter?
- Boeing turned to Fairmarkit, AI to help land its tail spend
- Expand supply chain metrics to cover the complete customer experience
- More latest news
Latest Resources
About the Author
Jeff Berman, Group News Editor
Jeff Berman is Group News Editor for Logistics Management, Modern Materials Handling, and Supply Chain Management Review. Jeff works and lives in Cape Elizabeth, Maine, where he covers all aspects of the supply chain, logistics, freight transportation, and materials handling sectors on a daily basis. Contact Jeff Berman
Follow SCMR on social media.
@SupplyChainManagementReview on Facebook
@SCMR on Twitter
SCMR on Linkedin
Subscribe
Supply Chain Management Review delivers the best industry content.
Editors’ Picks
