ISM manufacturing PMI reveals strong growth in May
A key survey of manufacturing sector conditions in the States revealed a small reaceleration in activity last month amid multiple reports of "strong" demand, some hiring difficulties and price pressures.
The Institute for Supply Management's factory sector purchasing managers' index rose to a reading of 58.7 for May following a print of 57.3 in April.
Economists had penciled-in a print of 58.1.
Production levels saw a marked pick-up, with the survey's production sub-index jumping by 4.3 points versus April to reach 61.5.
But gauges of new orders and employment also improved, rising from 61.2 to 63.7 and from 54.2 to 56.3, respectively.
A gauge tracking the prices paid by companies meanwhile edged higher from 79.3 to 79.5.