Yahoo奇摩新聞 ISM manufacturing index: What the data reveals
The Yahoo Finance Live team breaks down what the May ISM manufacturing index is telling us about the economy.
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- We do have some breaking news that we want to bring your direction, though, as we've just got the latest ISM data and manufacturing PMI specifically. That came in at a reading of 46.9%. That is about 2/10 of a percentage point lower than the 47.1% that was recorded during the month of April.
The new orders index, that remained in contraction territory at 42.6%. That is 3.1 percentage points lower than the figure of 45.7% that was recorded in April as well, the production index also down 9 percentage points.
- Yeah, so this is the seventh month in a row of a contraction there--
- Yeah.
- --because last month marks six months after months upon months of growth. And so, again, just showing some weakness there in manufacturing. And this is really one of the last key data points that we have ahead of the big jobs report on Friday after the ADP numbers that we had earlier today. Go ahead, Brad. You look like you want to say something. Go right ahead. [LAUGHS]
- Oh, no, no, no. I'm listening and reading at the same time trying to keep my place on the screen here.
- OK. [LAUGHS]
- But yes, the May composite index reading, it actually reflects companies continuing to manage outputs to better match demand for the first half of 2023, preparing for growth in the late summer, early fall period. So in the interim, you could see a little bit more slippage or moderation here. However, clearly more business uncertainty in May is what the report is noting here.
- Yeah, and only one sector of the kind of six biggest areas saw growth. And that was transportation.
- OK.
- Transportation equipment, I should say. So that is one, I guess, bright spot within that report.
- Yeah, the only.
[LAUGHTER]
Yes.
- Right, the one and only. [LAUGHS]
- Yeah, so continuing to look through this, the markets-- at least, as of right now, as we have seen with the S&P 500, kind of flat, just barely to the downside a moment ago. That has continued to wobble here a little bit on this Thursday.
- Right.
- And so even with that waffle win-- excuse me. It's Thursday. Third day of the week.
- It's Thursday, exactly.
- Man, these shortened weeks.
- It's because of the shortened week.
- Exactly.
- So you feel like you lost a day. And ADP came out today, when it usually comes out on Wednesday.
- Right.
- But on a holiday shortened week, they--
- Confusion ensues.
- Exactly, indeed.
