The Institute for Supply Management’s (ISM’s) PMI measuring manufacturing activity nationwide decreased last month to 46.9 from 47.1 in April, the seventh consecutive month of contraction (a reading below 50.0 is indicative of contraction). “May performance was clearly weaker compared to April,” said ISM, “…there is clearly more business uncertainty in May.” New Orders, Supplier Deliveries, Inventories and Backlog all fell while Prices decreased. See the full report here.
