The nation’s manufacturing sector fell to its lowest level in 11 years in May, but other indicators suggest the worst impacts of the COVID-19 pandemic could be over, according to new data from the Institute for Supply Management (ISM).
In its “Report On Business,” the Arizona-based trade group reported the ISM index of U.S. factory activity increased to 43.1 last month, up from 41.5 in April, the lowest level since April 2009. The group said any reading below 50 shows manufacturing is down.
But ISM said there was also good news as the sector showed signs of stabilizing in May, considered a transition month between closed and reopened factories.
Source: Pymnts.com
No comments:
Post a Comment