US: ISM Manufacturing PMI improves to 58.7 in May to surpass market estimate of 58.1

“The May PMI® registered 58.7 percent, an increase of 1.4 percentage points from the April reading of 57.3 percent," the Institute for Supply Management announced on Friday.

• The New Orders Index registered 63.7 percent, an increase of 2.5 percentage points from the April reading of 61.2 percent.
• The Production Index registered 61.5 percent, a 4.3 percentage point increase compared to the April reading of 57.2 percent.
• The Employment Index registered 56.3 percent, an increase of 2.1 percentage points from the April reading of 54.2 percent.
• The Supplier Deliveries Index registered 62 percent, a 0.9 percentage point increase from the April reading of 61.1 percent.
• The Inventories Index registered 50.2 percent, a decrease of 2.7 percentage points from the April reading of 52.9 percent.
• The Prices Index registered 79.5 percent in May, a 0.2 percentage point increase from the April reading of 79.3 percent, indicating higher raw materials prices for the 27th consecutive month.