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“The seasonally adjusted IHS Markit final U.S. Manufacturing Purchasing Managers’ Index (PMI) registered 56.4 in May, down fractionally from 56.5 in April,” Markit Economics reported on Friday.

Key takeaways

  • The reading marked the second strongest improvement in the health of the sector since September 2014.
  • Factory output continued to increase at a robust pace in May, despite the rate of growth softening slightly.  
  • Reflective of stronger demand conditions, new orders increased sharply in May.  
  • Firms added to their payrolls again, with the rate of job creation picking up slightly during the month though  failing to match the highs seen earlier in the year.
  • Meanwhile, price pressures remained elevated.