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US Manufacturing Growth Unexpectedly Firms on Stronger Orders

  • ISM May purchasing managers index rose to 56.1; est. 54.5
  • New orders index advances to highest in three months
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What the May ISM Report Signals for the US Economy
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US manufacturing activity unexpectedly advanced in May as new orders and output growth quickened, suggesting underlying demand remains solid. 

The Institute for Supply Management’s gauge of factory activity increased to 56.1 last month from 55.4 in April, according to data released Wednesday. Readings above 50 indicate expansion. The figure exceeded most economists’ estimates in a Bloomberg survey, which had a median projection of 54.5.