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markit us manufacturing flash PMI MayDespite a dip in new orders and export sales, the Markit Flash U.S. Manufacturing Purchasing Managers’ Index (PMI) was up from 55.4 to 56.2 in May.

The output index rose from 58.2 to 59.6, making May the fastest pace for output growth seen since February 2011, and according to the National Association of Manufacturers’ Shopfloor blog, a sign that American manufacturing is rebounding from “weather-related softness” earlier this year.

Output rises at fastest pace in over three years. Some Key points:

  • Work on new and existing orders supports growth
  • Payrolls continue to increase
  • Survey record increase in purchasing activity

The Data was collected 12 – 21 May 2014.

Operating conditions in the US manufacturing sector continued to improve during May, with strong rises in production and output complemented by further payroll growth. After accounting for seasonal factors, the Markit Flash U.S. Manufacturing Purchasing Managers’ Index™(PMI™) improved to 56.2 in May, up from April’s 55.4. Moreover, the latest reading was the strongest recorded by the survey for three months.

Flash U.S. Manufacturing PMI™ Summary

50.0 = no-change on previous month (seasonally adjusted)

Index May’14 Apr’14 Change signalled
PMI 56.2 55.4 Expansion, faster rate
Output 59.6 58.2 Expansion, faster rate
New Orders 58.2 58.9 Expansion, slower rate
New Export Orders 51.5 51.7 Expansion, slower rate
Employment 53.5 53.7 Expansion, slower rate
Backlogs of Work 55.9 55.2 Expansion, faster rate
Output Prices 50.4 50.9 Rise, slower rate
Input Prices 56.3 53.5 Rise, faster rate
Stocks of Purchases 51.8 48.7 Expansion, change of direction
Stocks of Finished Goods 47.7 49.1 Contraction, faster rate
Quantity of Purchases 59.2 56.7 Expansion, faster rate
Suppliers’ Delivery Times 46.8 49.5 Lengthening, faster rate

Decreases in new orders (58.9 to 58.2) and export sales (51.9 to 51.5) were slight, but still indicate growth, albeit at a slower rate.

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